1Eligibility
The first step in buying a home with Shared Ownership in Dorset 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 Dorset
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Shared Ownership in Dorset
Explore idyllic Shared Ownership homes in Dorset, and take advantage of this coastal county’s endless rolling countryside and areas of outstanding natural beauty.
Local Shared Ownership properties in Dorset
Locals and visitors alike travel all over Dorset to soak up the county’s stunning coastlines, charming seaside towns, and rolling countryside hills that seem to go on forever. By moving into a Shared Ownership home in Dorset, you’ll have all of this right on your doorstep – along with handy travel links via Bournemouth Airport and local rail lines that can get you into London within a couple of hours.
Dorset also boasts a UNESCO World Heritage Site in the form of the Jurassic Coast, with history in this region being dated back for 185 million years.
Embrace Shared Ownership in Clarence Place
Kingsmere Park offers a variety of homes to suit every kind of person interested in Shared Ownership in Dorset – from first-time buyers, to families looking for a larger space.
To get around, residents of Kingsmere Park can take advantage of Parley Cross Crossroads bus stop, which is located just a one-minute walk from your home. This will get you into Bournemouth, from which you can hop on a train to Poole, Southampton, and London with ease.
You’ll also have a supermarket express and pharmacy right on your doorstep, for quick trips to grab the essentials. For more choice, you’ll also find a supermarket just a five-minute drive from your new home. A number of traditional pubs are also within walking distance; perfect for a drink after work, or a hearty Sunday roast.
Why Dorset?
- From our Clarence Place homes, you can be in the centre of the coastal town of Bournemouth within 15 minutes – perfect for family days out during the summer.
- The New Forest National Park is a short trip away, ideal for walkers, cyclists, and any outdoor enthusiasts wanting to soak up nature.
- A number of excellent primary and secondary schools are in the local area, with higher education needs served by Bournemouth University just four miles away.
- Richmond Gardens Shopping Centre, Bournemouth Shopping Arcade, and Castlepoint Shopping centre are all a convenient 15-minute drive from our Clarence Place homes.
- More than half of Dorset has been designated as an Area of Outstanding Beauty, so you’ll have no shortage of stunning walks and days out when exploring your surroundings.
How does Shared Ownership in Dorset 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 of the initial purchase price, typically from 25% 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 Dorset?
Shared Ownership homes in Dorset 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 ever buy my Dorset Shared Ownership home outright?
You can buy more shares in your Dorset home – this is known as ‘staircasing‘.
When you buy more shares in your home, your home is re-valued and you buy the shares at the current market value, at the time you are buying the shares. Most homes allow you to staircase up to 100% ownership.*
*Some developments do have a maximum staircase threshold, meaning there is a maximum equity available to purchase. The Sales team can advise if the home you are interested in has this restriction.
How do I view a Shared Ownership home in Dorset?
Once our homes are ready to be viewed, we welcome visitors to book a viewing with our sales consultants and take a look around our show homes. At this time, we will also have a discussion around your requirements for your new Shared Ownership home and will provide more information on how the scheme works.
However, if our homes are not yet ready to be viewed, our sales team will make sure that you’re provided with as much information as possible about your new home and the wider development.
How to buy a Shared Ownership home in Dorset: a step-by-step guide
2Find a home
Browse through our available Shared Ownership properties in Dorset. 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 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 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 Dorset 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.