Shared Ownership in Gloucester
Michael Tuck New Homes offer a wide range of brand new Shared Ownership homes in Gloucester.
You can start by purchasing from just 40% of your new home in Gloucester and then buy more as and when you can afford to. Your home is exclusively yours.
We regularly have new shared ownership properties coming on to the market in Gloucester and the surrounding area. If you would like to join our mailing list please register for property updates today.
Shared Ownership apartments and houses at Perrybrook, Brockworth, Gloucester
ONLY 1 REMAINING!
A selection of two bedroom brand new apartments and houses available on a Shared Ownership scheme with prices from just £80,000.
Perrybrook is a brand new development on the eastern edge of Gloucester in the shadow of the Cotswold escarpment just 6 miles from Cheltenham town centre.
Shared Ownership at Great Oldbury, Stonehouse, Gloucestershire
NOW ALL SOLD!
Great Oldbury is conveniently located close to Stonehouse and just 4 miles from the market town of Stroud. With excellent links to the M5 both north and southbound this development offers everything for young professionals, first time buyers and families.
Shared Ownership properties at Whittle Gardens, Innsworth, Gloucester
*** ALL SOLD, BUT MORE COMING SOON ***
One bedroom apartments available on a shared ownership basis from £63,000 for a 40% share, and four bedroom houses from £140,000 for a 40% share.
What is Shared Ownership?
If you can’t quite afford the mortgage on 100% of a home then Help to Buy: shared ownership offers you the opportunity to buy a share of your home and pay rent on the remaining share.You can buy between 25% and 75% of the property with the option to buy more shares at a time that’s right for you.
Every month you repay your mortgage on the share you’ve bought, together with a subsidised rent on the remaining share.
Who do you share the property with?
You share the ownership with the Housing Association but have all the rights and responsibilities of the full owner occupier. You pay the Housing Association a discounted monthly fee on the remaining share, which they continue to own.
What are the benefits of Shared Ownership?
You benefit from lower monthly payments than if you bought a home outright but get all the advantages of a brand new home. You can usually buy more shares in your home as soon as you can afford to. The more shares you buy, the lower the monthly fee you pay.
- Less deposit is required than with an outright purchase.
- You will only need to secure a mortgage of 25-75% of the purchase price.
- Monthly costs can be 50% less than buying a property outright.
- first time buyers with a household income of less than £50k should be eligible for a Part Rent Part Buy scheme.
- As your income increases, you can choose to buy a greater percentage of the property.
Who is eligible for Shared Ownership?
You could buy a home through Help to Buy: Shared Ownership in Gloucester and the rest of England if:
- Your household earns £80,000 a year.
- You must be registered with Help to Buy South.
- You cannot be an existing home owner or on a mortgage (Your existing property must be sold subject to contract).
- You need to fit the affordability parameters set by Homes England and must contact an approved independent financial advisor to carry out an initial assessment.
- You may require a local connection with the development
How do you qualify for Shared Ownership schemes?
If you wish to find out how to apply for Shared Ownership schemes in Gloucester, please do not hesitate to get in touch.
Shared Ownership Developments
Shared Ownership properties for sale.
How do I apply for Shared Ownership?
Contact nowFrequently Asked Questions
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What is a part exchange?
Part-exchange means the option to trade in your existing property when you’re buying another one. The company that you are buying from will use your property as part-payment for the new property you are buying from them.
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What's the advantages and disadvantages of buying a new build?
The answer to this is subjective and depends on your personal preference as well as your situation. As an experienced estate and new homes agent our Director Richard Tuck wrote this useful article exploring the advantages and disadvantages of buying a new build.
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When does Help to Buy end?
Help to Buy: Equity Loan closes on 31st March 23 but closes to new applications on 31st October 22. More information can be found on our Help to Buy page.
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How can I achieve a 28 day exchange deadline when purchasing a new home?
Buying a New Home in Gloucester can be different from buying a second-hand property. Since you are buying from a house builder that handles hundreds of house sales every year, you will be expected to exchange contracts within their time frame. Read our guide on how to achieve a 28 day exchange deadline when buying a new home
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Can I make colour choices on a new build?
If you are buying a new build property and you reserve at an early enough stage, then you may be able to make colour choices. Typically the options will include kitchen units and work tops, tiling and flooring. Obviously if the house is already or close to being built then it will be too late to customise the finished.
