Shared Ownership homes in the South West

What is Shared Ownership?

Shared ownership is a Government-backed scheme that allows you to buy a share of a new home and pay rent on the remaining part.

Aimed at helping first time buyers onto the property ladder, it can also be used to buy a bigger home than you can afford on the open market.

You can purchase shares of between 10% and 75% of the full market value of the house from the housing association. You will need a deposit and a mortgage for your share of the property.

You will pay rent of up to 3% of the remaining share owned by by the housing association.

You will own the lease on the property and therefore be responsible for repairs inside the property. The housing association will take care of the outside. There is usually a service charge on the property to help pay towards external upkeep.

Why Shared Equity?

An affordable way to get on to the housing ladder
Provides the security of home ownership
Flexibility to sell and move at any time
Ability to increase the level of ownership at any time
Freedom to decorate and improve your home
Benefit from any increase in property prices

Who is eligible for shared ownership?

You are eligible to purchase a Shared Equity property in England or Wales if:

Your household income does not exceed £80,000 per annum for homes outside of London.
You have a deposit (at least 5% of the share value).
You are a first-time buyer or used to own a home but cannot afford to buy outright now.
The property will be your principle and only home.
You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.

Buying a Shared Equity Property from Harrington Homes

Buying a shared equity property is just like buying any other Harrington Home, and our sales team will assist and advise you every step of the way.

If you would like to find out more please contact a member of our sales team using the form below.

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Why Choose Harrington Homes?

Firstly, because we are an independent local home builder. Harrington Homes is especially proud to create completely unique homes of the highest quality.

Premium quality new homes

Above all else – each finishing touch is hand-picked to ensure our uniquely high design standards are met.

Contributing to the local community

Investing within the neighbourhood by employing local tradesmen in addition to local business suppliers.

Creating homes not houses

No two developments are the same, in other words each house is individually designed.

Customer service is second to none

Committed to excellence coupled with responsive customer care. Both before and after you buy.