Shared Ownership Guildford
Located just south of London in the county of Surrey, Guildford is one the the UK's most charming English towns with plenty to offer residents, buyers, and visitors alike. From its 17th-century architecture, rich history, and excellent transport links, there is something for everyone and is particularly popular with London commuters. With the Surrey Hills on your doorstep and the Kent countryside nearby, there's no shortage of things to see and do. While you wonder about the medieval cobbled streets in awe of the Georgian architecture and Saxon remanence, you may just forget you’re a mere 30-minute train journey away from the capital. Guildford provides a quiet oasis of calm and a close community feel amongst the backdrop of the Kent Countryside. Decorated in cottages and age-old pubs, and a variety of properties, there’s something undeniably charming about this location that makes it an ideal place to find a new home to settle down in, rent, or get onto the property ladder for the first time.
With excellent transport links to London and beyond, Guildford is the perfect blend of country and city living. Whether you're looking for a quiet place to call home or a lively night out, this is a great place to venture into home ownership with housing options for everyone, including shared ownership properties that make home ownership achievable for most.
Well Connected With Great Options For Shared Ownership
Home to its very own Guildford castle and Cathedral, this is an enchanting setting and popular commuter town that was named as one of the top 15 places to live in England by The Sunday Times in 2020. The period properties, stately homes, and Saxon remains have created a sought-after property scene that shared ownership in Guildford now makes accessible for lower-income families to afford, and is particularly attractive for first time buyers. With shared ownership homes in Guildford, home buyers here can spend their weekends exploring the historical landmarks that are sprinkled across the rural landscape or enjoy a spot of retail therapy while dipping into the swanky bars and restaurants that line Guildford’s high street. Handily located halfway between London and the glorious beaches of the South Coast, this location is ideal for families and professionals alike that are looking to set down their roots in homes they can afford.
Transports Links For Shared Ownership Guildford
With regular direct trains from Guildford Station to London Waterloo, you can get straight into central London in half an hour, meaning you get the best of the UK's transport network and couldn’t be better connected to the capital. The M3, M23 and M25 are also well within reach via the A3 that connects you to the rest of the South East. If you want to stay up to date with Shared Ownership Property in Guildford, make sure you register with Southern New Homes to receive alerts when new properties become available to search and view in this area.
Shared Ownership Properties For Sale In Guildford: A Family Setting
The area is home to one of the UK’s best universities and excellent schools. The University of Surrey, just outside of London brings a young and vibrant atmosphere during term time each year and the establishment consistently wins awards for its success. Two of the best-ranking schools in the South of the Country, Guildford High School and The Royal Grammar School for Boys also reside here and are highly recommended by families. Combined with a broad range of museums, galleries and heritage sites within the town and surrounding area, there’s plenty to keep the youngsters learning and exploring within this charismatic market town for those looking for family-friendly shared ownership housing options.
Search & Register With Southern New Homes For Shared Ownership Properties For Sale In Guildford
Guildford offers many advantages and new homes are often considered too difficult to get but thankfully, Shared Ownership properties in the area and Help to buy schemes may allow you to get on the property ladder in this great location. To get notified every time there's a new home available for buyers, simply register with Share to Buy.
Southern New Homes is one of the biggest shared ownership property specialists in the UK. Our website is an ideal place to start for home buyers, including first time buyers, looking for affordable home ownership, a simple buying process, and easy to use property search tool. To take the first steps to getting on the property ladder - simply search for shared ownership homes in this area by using our handy property search function. If you would like to register your interest in a specific listing, please get in touch with our team at email@example.com or by calling 0300 555 2171.
Buyers can filter the results to find shared ownership options that meet their needs. Including a keyword search, filtering by what you can afford to pay for a mortgage, service charge if applicable, deposit amount and rent. You can also set up alert preferences so you’ll be notified when new properties that meet your search location and space requirements are announced by email.
What is Shared Ownership?
Shared ownership is a way of buying a property in which you own a share of the property and pay rent on the remaining share. A shared ownership home can offer an affordable alternative to buying outright or renting, making it a great stepping stone onto the housing ladder for people who are struggling to buy a property outright or get a mortgage large enough to purchase a home, such as many first time buyers.
Initial shares generally range between 25% to 75% and a mortgage is paid on your proportion of ownership, and a lower rental price is paid to the homeowners association on the remaining share. You then have the option to buy more shares as you increase the equity in your shared ownership home.
The size of the deposit to the mortgage amount required, and the value of the housing association's share in the shared ownership property will vary depending on the property and the scheme that you're using. In most cases, you'll be able to buy additional shares in your property over time, until you own it outright.
Do I Need A Shared Ownership Mortgage?
If you're considering buying a property through a shared ownership scheme, then you'll need to get a shared ownership mortgage. These mortgages are designed specifically for people who are going through the buying process for affordable homes with help from a housing association.
A shared ownership mortgage allows you to finance a portion of the purchase price of a property that you are buying and to qualify for a shared ownership mortgage, you will need to have a good credit history, have a 5% deposit, and be able to afford the monthly repayment terms outlined by the lender.
As shared ownership mortgages are designed to cover a proportion of the property's value, typically between 25-75%, they will typically be for a lower overall amount than if you were applying for a traditional home loan. This type of mortgage will also typically have lower interest rates than other types of mortgages, making them an affordable option that helps many first time buyers on their way to home ownership.
What Is The Eligibility Criteria For Affordable Shared Ownership Homes?
The eligibility criteria for buyers of shared ownership properties vary depending on the area in which you are buying, but some general rules apply.
To be an eligible buyer for shared ownership, you must:
- have a household income pay of less than £80,000 per year,
- be a first-time buyer, or someone who has previously owned a home but can no longer afford to do so,
- be unable to purchase a suitable home on the open market,
- not have more than £6,000 in savings,
- be buying your home as your main residence,
- not sublet it or use it as an investment property,
- be employed or have a firm offer of employment,
- have saved at least £1,600 for a mortgage deposit,
- be living or working in the local area of the housing development.
In the South East of England, there are additional criteria that apply. To be eligible for Shared Ownership home ownership options in this region, you must also have:
- a household income of less than £90,000
- have savings of at least £5,000.
If you're looking for an affordable way to get onto the property ladder, make rent a thing of the past, and start your home ownership journey, then you will need to be a buyer that can meet the criteria above to take advantage of shared ownership schemes when you search for your perfect home.
How to Find A Home In Guildford
If you want to save on rent and stop paying a service charge, it's time to find the perfect place to call home, and there are plenty of affordable shared ownership options for new buyers to choose from in Guildford. From traditional family homes with plenty of bedrooms in the countryside to vibrant affordable city apartments, there are plenty of exciting properties to search and buy. Simply register with the team to find out more.
Whether you're a first time buyer looking to take your first step onto the property ladder, want to buy additional shares, or are looking to sell up and move into a new home, our Southern New Homes site can help. Our property portal showcases affordable shared ownership homes across London and the South East from dozens of UK housing providers to help you through the buying process.
Call our team on 0300 555 2171, register online to receive alerts, or view our list of available properties to find your next home.Search Guildford Properties