1Eligibility
The first step in buying a Devon Shared Ownership home is to assess your eligibility. If you meet the criteria, it’s time to start home hunting!
Back to development
Register your interest for Devon
1
2
3
Shared Ownership in Devon
Explore our Shared Ownership homes in Devon. With beautiful coasts and stunning national parks, this picturesque slice of the country is an ideal location for your new home.
Local Shared Ownership properties in Devon
If we say ‘Devon’, you might immediately think of clotted cream on scones, tranquil walks by the sea, and peaceful fishing villages. While the county offers all of this, it is also a fantastic place to live and work. Towns and cities such as Exeter, Barnstaple, and Plymouth offer great employment and educational facilities.
We have a number of Shared Ownership houses available in Devon, alongside bungalows and apartments ranging from two- to five-bedroom properties to suit buyers of all ages and families of any size.
And with new developments opening up in the future, we’re sure you’ll find your new Shared Ownership home in Devon to enjoy life in this captivating county.
Coming soon
Benson Grange
Witheridge, Devon EX16 8FD
From
N/A
Transport
8 miles
Example share
40%
Bedrooms
–
Coming soon
Okehampton View
Okehampton, Devon EX20 1XQ
From
N/A
Transport
1.8 miles
Example share
40%
Bedrooms
–
Sold
The Berries
Paignton, Devon TQ4 7PE
From
N/A
Transport
2.2 miles
Example share
%
Bedrooms
–
Why Devon?
- If the high property prices in places such as Salcombe and Exeter are off-putting, a Devon Shared Ownership property could be the answer.
- From moorlands to river valleys, this is an incredible place to walk, run, or cycle. Dartmoor is also surrounded by quaint villages and farms—fresh produce and welcoming pubs are all on your doorstep.
- Southern Devon’s coasts are perfect for all manner of watersports, from rockpooling to sailing to fishing.
- The county’s national parks and Areas of Outstanding Beauty make for great bird-spotting and scouting locations, with otters and beavers among the wildlife you’ll discover.
- The historical and picturesque town of Tiverton is located around 20 minutes from our Witheridge development, making for a great day out to explore the local area.
How does Shared Ownership in Devon work?
The Shared Ownership scheme is simple: you buy an initial share (typically between 10% 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 of the initial purchase price, typically from 10% to 75%. 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 Devon?
Shared Ownership homes in Devon 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.
How do I view Shared Ownership homes in Devon?
Where possible, we welcome visitors to our Shared Ownership show homes in Devon. However, we are unable to facilitate viewings on some developments.
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 can 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 today.
Will I need a deposit when buying a Shared Ownership home in Devon?
Many of our buyers still require a deposit to proceed with their Devon Shared Ownership purchase, but only on the percentage of the property you are buying. Mortgage deposits can often be from 5% of the share value.
If you’re unsure of how to save for your deposit, check out our expert tips to get you on the property ladder sooner.
How to buy a Shared Ownership home in Devon: a step-by-step guide
2Find a home
Search for available Shared Ownership properties in Devon on our website. Once you’ve found a property 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 Shared Ownership property in Devon that 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 Shared Ownership home in Devon 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.