1Eligibility
The first step in buying a home with Shared Ownership in Lincolnshire 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 Lincolnshire
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Shared Ownership in Lincolnshire
Explore homely Shared Ownership properties in Lincolnshire, and soak up the beauty of the British countryside.
Local Shared Ownership properties in Lincolnshire
Lincolnshire is a vast county of contrasts, with rolling hills and picturesque coastline situated alongside modern cities like Lincoln and cosy countryside towns like Boston and Bourne. It’s an ideal location for growing families, young professionals seeking a slower pace of life, and older buyers looking for somewhere to relax.
The second-largest county in the UK, Lincolnshire has a rich cultural heritage that’s perfect for days out and weekend retreats. It’s also home to a number of Shared Ownership developments, making it the perfect place to get on the property ladder.
Embrace Shared Ownership at Staples Gate & Elsea Park
If you’re looking for Shared Ownership properties in Lincolnshire, then look no further than Staples Gate and Elsea Park: our brand-new, modern Shared Ownership developments featuring spacious 2- and 3-bedroom houses.
Located just minutes away from Boston town centre, Staples Gate is truly the best of both worlds, offering a relaxing, peaceful place to live with handy travel links and plenty to do right on your doorstep.
And at Elsea Park, you’ll be just outside of the quaint market town of Bourne, with attractive high-street shops, delicious restaurants, and several schools rated ‘Outstanding’ by Ofsted. Whether you’re a growing family looking for somewhere to lay down roots, or a working professional moving to the area, anyone who meets the eligibility criteria can expect an exciting, community-rich lifestyle at our Lincolnshire Shared Ownership homes.
Why Lincolnshire?
- Our Staples Gate Shared Ownership homes in Lincolnshire provide easy access to local amenities and leisure activities. You’ll be able to enjoy restaurants, cafes, and entertainment options such as Boston Bowl, Savoy Cinema, Glo Golf, and The Gliderdrome – right on your doorstep!
- From the nearby Boston train station, you can be on the eastern coast in less than 45 minutes – perfect for spontaneous beach days in the sunshine, or exploring the stunning scenery that the county has on offer.
- For residents of our Elsea Park development in Bourne, you’ll have the sprawling 400-acre Bourne Woods just a 10-minute drive away; ideal for long countryside dog walks or exciting, nature-filled days out with the kids.
- Historic houses and estates are scattered throughout the Lincolnshire countryside, offering ample opportunity to immerse yourself in the rich cultural heritage you’ll soon become a part of.
How does Shared Ownership in Lincolnshire 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’. For more information, make sure to check out our comprehensive HOME Hub.
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 Lincolnshire?
Shared Ownership homes in Lincolnshire 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 Lincolnshire?
Absolutely! Contrary to some myths you may have heard, all of our homes – including our Lincolnshire Shared Ownership properties – are yours to decorate. You’ll only need permission from L&G 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 Lincolnshire?
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 Lincolnshire: a step-by-step guide
2Find a home
Browse through our available Lincolnshire 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 LincolnshireShared 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 Shared Ownership home in Lincolnshire 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.