Surrey and shared ownership properties guide, British property investment online advice, New UK building design

Surrey and Shared Ownership Properties, UK

6 Oct 2022

Surrey, a county in Southeast England, is one of the home counties and borders Greater London to the northwest. With an area of 1,206 square miles (3,140 km2), Surrey is the third largest county in England by area, after Kent and Essex. It is also the most populous county outside of Greater London with over 1.2 million people, although it has a smaller population than some of the other home counties such as Hertfordshire and Berkshire. The county town is Guildford.

The majority of Surrey’s economy is based on services and commerce. The county is home to Heathrow Airport, the UK’s busiest airport, and Gatwick Airport, London’s second busiest airport. Surrey has the highest proportion of woodland in England and is one of the most wooded counties in the UK. It also contains large areas of open common land.

Surrey (UK) & Shared Ownership Properties in southern England

What are shared ownership properties?

Shared ownership properties are affordable housing designed to help people who cannot afford to buy a property outright. Shared ownership schemes involve purchasing a share of a property (usually between 25% and 75%) and paying rent on the remaining share. The advantage of shared ownership is that it can make buying a property more affordable. There are several different types of shared ownership properties; here is a detailed explanation of the properties:

1) Low-cost home ownership

Low-cost home ownership schemes are designed to help people with low incomes or bad credit histories buy a property. These schemes typically involve purchasing a property with a mortgage from a social landlord, such as a housing association. The advantage of these schemes is that they can make buying a property more affordable, as the mortgage is usually at a lower interest rate than a standard mortgage.

2) Shared equity

Shared equity schemes involve buying a share of a property (usually between 25% and 75%) and paying rent on the remaining share. The advantage of shared equity is that it can make buying a property more affordable, as you only need to finance a smaller mortgage.

3) Shared ownership

Shared ownership schemes involve buying a share of a property (usually between 25% and 75%) and paying rent on the remaining share. The advantage of shared ownership is that it can make buying a property more affordable, as you only need to finance a smaller mortgage. In addition, shared ownership schemes often include other benefits, such as access to shared communal facilities.

4) Intermediate rented

Intermediate rented schemes are designed to help people with low incomes or bad credit histories rent a property. The advantage of these schemes is that they can make renting a property more affordable, as the rent is usually at a lower rate than a standard rental agreement.

Wrapping Up

Surrey is a great place to buy a property, especially if you are looking for an affordable option. Several types of shared ownership properties are available in Surrey, so be sure to do your research and find the best option for you. Contact Sagehomes if you would like help finding a shared ownership property in Surrey. We are experts in the field and can guide you through the process of finding and buying a property.

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