The first step in buying a home with Shared Ownership is to assess your eligibility.
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Shared Ownership in Birmingham
Explore affordable Shared Ownership properties and developments in Birmingham
Local 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, a well connected transport system and a great spot in which to set up home. The multi-cultural spot has a well-earned reputation for being friendly and with 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.
- Lucas Place 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.
- 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.
- 3 miles west, Moseley and Kings Heath are popular for their thriving independent cafes, pubs, bakeries and boutiques.
- The local area is very green, with the Botanical Gardens, Cannon Hill Park and Brueton & Malvern Park.
The Shared Ownership scheme is simple, you buy an initial share of between 25% and 75% of the apartments 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.
You can purchase any share from 25% to 75% of the initial purchase price, but 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.
How to buy a Shared Ownership home: a step-by-step guide
Search for available properties on our website here. Once you’ve found a property you’re interested in, you’ll need to arrange 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.
Speak to a qualified independent financial adviser to see how much of the home you can buy.
To secure the property you’ve fallen in love with, complete the application paperwork and pay the reservation fee.
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.
Alongside the legal paperwork, you need to find a 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.
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.
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.
Congratulations! You can now move into your new 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, a process known as staircasing.