2 Jan 2019

New Year, new opportunity with shared ownership

Many people will have seen in the New Year in a new home after getting on the housing ladder in 2018 through shared ownership with GreenSquare Homes.

Shared ownership enables people to part-buy and part-rent their own home. It's an ideal option for people who cannot afford to buy a property outright on the open market, because they buy a share in a property and pay a subsidised rent on the remainder. They can gradually buy more shares if they want to, until they own the whole property.

In recent years more and more people have struggled to get on the housing ladder. House prices continue to rise and are now often more than 10 times the average salary.

Figures from the National Housing Federation's Home Truths 2017/18 Report showed that the average house price in Wiltshire is £289,993, more than 11 times the average salary of people living in the county.

GreenSquare Homes recognises the importance of offering new homes for shared ownership and currently has a number of properties available in Wiltshire.

Faye Stobbs, GreenSquare Homes' Shared Ownership Sales Negotiator, said: "In the current climate, owning a home is unfortunately increasingly out of reach for many. So, in the last year we have been delighted to be able to give people a helping hand and make shared ownership an affordable reality for them. Shared ownership is becoming much more mainstream, particularly for younger, aspirational buyers."

Shared ownership is an alternative to renting or full ownership but gives you the same rights and responsibilities as any other homeowner. 

Faye continues: "We currently have two-bedroom houses available for shared ownership at Filands View, in the popular town of Malmesbury, which people can purchase a 40% (or more) share in with only a 5% deposit. These lovely new homes, along with our other properties, are perfect for anyone who is looking to take their first step towards becoming a homeowner in 2019."

For more information about shared ownership and the properties that GreenSquare Homes has available, please visit www.greensquarehomes.com