COOKIE NOTICE: Sage Housing uses cookies to store information on your computer, in order to improve your experience when using our website. One of the cookies we use is essential for parts of the site to operate and has already been set. You may delete and block all cookies from this site (using your browser), but parts of the site may not work. To find out more about the cookies we use, click here.

shared ownership

Is a mortgage just out of your reach? Many people in this position choose Shared Ownership. 

The Shared Ownership scheme is a Part Buy, Part Rent way of owning your own home for a smaller up front payment. Buy the share you can afford now (between a 25% - 75% share) without the need for a large deposit and increase your ownership to 100% of the home when the time is right for you.*

Click here to view our homes for sale

If you would like to learn more about Shared Ownership, please read our FAQ guide below. 

*Minimum equity share starts from 25% (scheme dependent). Minimum 5% deposit of the share value. Shared Ownership is subject to eligibility requirements.


 

how does shared ownership work?

You buy an initial share, which can range of 25–75% (dependent on the scheme), 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 are entitled to buy additional shares at any time after you purchase your shared ownership home. 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