Shared Ownership

Shared Ownership is part buying and part renting your home. It is designed to support people unable to afford the outright purchase of a property suitable for their housing needs.

Shared Equity is part buying your home with the remaining percentage being owned by the Housing Association. This is an alternative to shared ownership.

If you would like to discuss this option in more detail please contact the Neighbourhood Investment Team by

telephone on 01709 334962
email

How it works*

The initial share is purchased with a mortgage from a Bank or Lending Institute in the normal way. The size of the share will vary from scheme to scheme but tends to be a minimum of 25% or 50%. You may wish to consider purchasing a further share at a later date, or alternatively, you can remain a shared owner indefinitely. The choice is yours. You will pay rent on the remaining share to your Housing Association.

Who can apply? *

First time buyers
Existing private sector tenants leaving rented accommodation
People on the waiting list with a Registered Social Landlord, local authority or other public body

Selling your property*

You can either sell your share, whereby your Shared Ownership lease is assigned to the purchaser, alternatively, if you increased your share to 100% ownership then you can sell the property on the open market. (Please note: some properties may have restricted share options). There are also a variety of schemes you can access via The Key Choices Property Shop.

*This information is for general guidance only. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any binding contracts.

Further Information:

For further advice and information on residential leasehold issues contact LEASE, an organisation funded by Government to give free advice on a wide range of residential leasehold issues.

The Leasehold Advisory Service (LEASE)
2nd floor, 31 Worship Street
London
EC2A 2DX

Tel: 020 7374 5380 (local rates: 0845 345 1993)
Email: info@lease-advice.org
Website: www.lease-advice.org

Current Shared Ownership/Equity Properties available within the Rotherham area.

Please Note: In order to register your interest in any of the properties below you need to be registered with BOTH KeyChoices and My4Walls.

South Yorkshire Housing Association - Masbrough - Henley Rise

A selection of new build 3 Bedroom homes within a ground breaking eco-friendly development. These are available to buy on a 75% share fixed equity basis with the remaining 25% being owned by South Yorkshire Housing Association. No rent is payable on the remaining 25% share. If you wish to sell your home in the future you will receive 75% of the sale proceeds.

This is a PDF document icon Henley Rise (53kb)

South Yorkshire Housing Association - Canklow Woods Development

Canklow Launch Advertisement (2mb)

As part of proposals to regenerate Canklow, 71 new spacious homes are to be constructed of which 26 two and three bedroom properties will be available for affordable shared ownership sale. These beautifully designed homes are built very much with energy saving and fuel efficiency in mind and will incorporate solar thermal panels for hot water heating. The site is well placed for access to Rotherham town centre and M1/M18 motorway links

Please see site plans below. First release March 2008.

This is a PDF document icon Site plan 1 (394kb)
Site plan 2 (756kb)