These one bedroom quarter houses will be available to purchase on a shared ownership basis, with a 30% share costing £55,500. The houses will comprise an open plan kitchen/living room, downstairs cloakroom, double bedroom and shower-room. Outside there will be a communal garden and off road parking.
Shared ownership enables you to buy a share in your new home and pay a subsidised rent on the remaining share. It does not mean that you have to share your home with anyone else. The monthly cost of owning a shared ownership home usually works out less than buying it outright and in many cases the monthly costs are less than renting privately.
Buying a 30% share would cost you £55,500, but shares are available from 25% to 75% (depending on affordability). Once you have purchased a share you will have the option to purchase further shares up to 100%. The higher the share you own, the lower your rent will be - until you own 100%, when there will be no rent to pay.