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shared ownership

Is a mortgage just out of your reach? Many people in this position choose shared ownership. This represents a more affordable solution, where you part-buy and part-rent a property, which can lead to full home ownership in the future. 

If you would like to learn more about shared ownership, please read our FAQ guide below. The Shared Ownership Shop manages the sales and marketing of our properties.

Click here to view available properties. 

how does shared ownership work?

You buy an initial share, which can range between 25–75%, in one of Sage's new homes using a mortgage from a bank or building society, and pay a subsidised rent on the remaining share. The combined mortgage and rent is normally less than you would expect to pay if you bought a similar property outright.

After a year, you can increase your share of the property through ‘staircasing’. In most cases, you can eventually own your home outright.

who is it for?

The scheme aims to help people who cannot afford to buy a home outright. Most people who take up shared ownership are working, but unable to afford to buy on the open market.

what homes are available?

Some of our brand new homes may be part of a larger development where some properties are for outright sale or for rent through the local council’s register.

am I eligible?

A minimum level of income will be required, and on some sites a maximum income cap may apply, which will vary with each home.

what will it cost me?

In order to proceed you will need 5-10 % of the share price which could be as low as £3,000 , bear in mind you will also need around £3,500  one-off costs involved in buying a home– for example, legal fees, a valuation, mortgage fees, Land Registry and Stamp Duty.

Once you have bought, your ongoing costs include:

  • Your monthly mortgage repayment
  • The rent you pay to Sage
  • A monthly service charge for the maintenance and upkeep of common parts
  • Usual household costs such as council tax, water rates, fuel charges and contents insurance
  • Repairs and maintenance.

can I buy more shares?

You can buy further shares in easy stages so that, eventually, you own your home outright. Remember that the price of the property may have changed since you bought it, and it can go up or down.

what if I want to sell up?

You can sell your share in the property at any time. Sage will advise you of the process and any restrictions on the sale of the property.

what's my next step?

Get in touch with Sage. We can tell you more about shared ownership and the new homes we are selling.

You can email your enquiry to enquiries@sagehousing.co.uk