The first step in buying a home with Shared Ownership is to assess your eligibility.
Register your interest for Suffolk
Shared Ownership in Suffolk
Explore affordable Shared Ownership properties and developments in Suffolk
Local properties in Suffolk
Suffolk is an agricultural county in East Anglia, bordered by Norfolk, Essex and Cambridgeshire. Rich history, sandy beaches, beautiful countryside and bustling towns like Ipswich and Felixstowe make this county a brilliant choice for anyone looking for Shared Ownership Homes.
- The historic county is characterised by rolling hills, quaint villages (such as Clare and Glemsford) with cottages painted in Suffolk Pink, coastal towns like Aldeburgh and lots of farmland.
- Some of the county’s best rated schools are Birchwood Primary School, Churchill Special Free School, The Ashley School and Suffolk One Sixth Form in Ipswich.
- While Suffolk is rural, there are good transport links with London. Commuter towns include Ipswich, Stowmarket and Sudbury. There are two Park and Ride routes into Ipswich, and it’s easy to get around in the car with major roads including the A11 towards Norwich and the A12 towards Colchester and London.
- Towns in the county all provide their residents with GP surgeries, dentists and opticians. Notable hospitals in Suffolk include the West Suffolk Hospital with an accident and emergency department, the BMI St Edmunds Hospital and Hartismere Hospital in Eye.
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.
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.