1Eligibility
The first step in buying a home with Shared Ownership in Birmingham is to assess your eligibility. If you meet the criteria, you’re ready to start home hunting!
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Register your interest for Birmingham
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Shared Ownership in Birmingham
Explore affordable Shared Ownership homes in Birmingham, and benefit from living in the second-biggest city in the UK
Local Shared Ownership properties in Birmingham
The vibrant, lively city of Birmingham is more than a match for London. It comes with one big bonus: it’s a more affordable option while still offering charm, culture, excellent schools, and a well-connected transport system. It’s the ideal location to purchase a Shared Ownership home.
This multi-cultural spot has a well-earned reputation for being friendly and with multiple Michelin-starred restaurants, world-class entertainment and excellent shopping courtesy of the Bullring on your doorstep, there’s a lot of love about the city.
Why Birmingham?
- Our Lucas Place Birmingham Shared Ownership development is just 4 miles from both Birmingham city centre and Solihull. Catch a train from Spring Road Station to Birmingham Moor Street in 7 minutes.
- Birmingham is a thriving and exciting city to live in, with HS2 bringing in infrastructure investment and jobs, and cutting down travel time into London to just 49 minutes.
- Hall Green has everything you need. In walking distance, you’ll find Spring Road station, Waitrose, Aldi, Lidl, shops and takeaways, and The Shire Country Park.
- There are fifteen primary schools and six secondary schools within one mile of the development, including two rated ‘Outstanding’ by Ofsted.
- The West Midlands is home to nine of the UK’s leading universities, with the region producing more than 58,000 graduates every year.
- Moseley and Kings Heath are popular for their thriving independent cafes, pubs, bakeries and boutiques.
- You’ll discover a number of beautiful green areas, with the Botanical Gardens, Cannon Hill Park and Brueton & Malvern Park in close proximity to our Birmingham Shared Ownership developments.
How does Shared Ownership in Birmingham work?
The Shared Ownership scheme is simple: you buy an initial share (typically between 25% and 75%) of the property’s full value and pay a subsidised rent on the remainder.
You may purchase further shares (up to 100%) as your circumstances change, should you choose to. This is a process known as ‘staircasing’.
How do I know what percentage I can purchase?
You can purchase a share, typically from 25% to 75%, of the initial purchase price. Some properties may carry specific minimum share restrictions. You will be asked to speak to a financial advisor to assess what share you can buy that is both affordable and sustainable.
Is Shared Ownership cheaper than renting in Birmingham?
Shared Ownership homes in Birmingham can be cheaper than renting privately as the mortgage cost and low rent sometimes add up to less than the equivalent rental payments to a landlord. The specific costs of your new home will be outlined prior to purchasing your share, so you’ll be aware of what’s being charged before signing.
Can I decorate my Shared Ownership home in Birmingham?
Absolutely! Contrary to some myths you may have heard, all of our homes – including our Birmingham Shared Ownership properties – are yours to decorate. You’ll only need permission from Legal & General Affordable Homes to carry out larger works, to ensure they don’t impact the structure of the building.
How do I view Shared Ownership homes in Birmingham?
Once a scheme is live, we welcome visitors to our showhome suites. However, we are unable to facilitate viewings on some developments, depending on the days available or the roll-out of a specific scheme.
In those circumstances, our sales team can provide you with help and information to enable you to make a buying decision. This can include providing photography, CGI renders or virtual tours, or talking you through the floor plans thoroughly.
Where we are able to invite you into one of our homes for sale we want to ensure your safety. As such, visits will be by appointment only. Virtual viewings are also available – please contact our sales team to book your tour when you’re ready to move forward.
How to buy a Shared Ownership home in Birmingham: a step-by-step guide
2Find a home
Browse through our available Birmingham Shared Ownership properties. Once you’ve found a home you’re interested in, you’ll need to arrange a viewing.
3Arrange a viewing
To find the ideal home that suits you, it’s best to see the property yourself. Book an appointment with us here to arrange online or in-person viewings.
4Affordability
Speak to a mortgage broker to understand your affordability and see how much of the home you can buy.
5Application
To secure the Birmingham Shared Ownership property you’ve fallen in love with, complete the application paperwork and pay the reservation fee.
6Legal paperwork
With the reservation complete, you’ll need to instruct a solicitor and begin your legal paperwork to purchase the property. We make the process as smooth and seamless as possible, including breaking down technical terms with our jargon buster.
7Secure mortgage
Alongside the legal paperwork, you need to find a Shared Ownership mortgage that suits you and complete your mortgage application. You can either do this yourself or use a mortgage broker. Your lender will carry out affordability checks to ensure that you can afford the mortgage repayments. See our affordability calculator to understand what you can afford.
8Sign contract
With the mortgage in place, get ready to sign on the dotted line and pay your deposit. This is an exciting part of the process where you’re really close to your dream of homeownership.
9Exchange
It’s time to exchange contracts, which are legally binding agreements between you and us for the purchase of your property. You will also find out more about your completion and move-in date during this stage of the process.
10Move in
Congratulations! You can now move into your new Birmingham Shared Ownership home and make it your own.
You’ll still need to pay rent on the remaining share of the property you don’t own. The rent is usually set at 2.75% of the share that you don’t own. You can also choose to increase your ownership share over time via staircasing.
Get in touch
We look forward to hearing from you. Please contact our dedicated Sales Team who will be delighted to help you find your new home.