Shared Ownership

This scheme provides you with an opportunity to step onto the property ladder and own part of a property on a part-buy, part-rent basis.

The proportion you may initially purchase is usually between 35% and 75%, depending on the property and how much you can afford. Rent on the remaining share is payable to Boston Mayflower on a monthly basis. Your housing need, and ability to pay your mortgage and rent, is taken into account.

For the share you buy you will normally need a mortgage - although you can pay cash; if for example you have received money from an inheritance or divorce settlement.

The exact amount you pay each month will depend on a number of things, such as the purchase price of the property, the percentage of share you buy, rent and mortgage costs.

With time you may have the option to increase your share in your home until you own it outright.

You can express an interest in Shared Ownership through the Common Housing Register.

If you are interested in any of our Shared Ownership properties please feel free to call us on 01205 318618