The first step in buying a home with Shared Ownership is to assess your eligibility.
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Shared Ownership in Surrey
Explore affordable Shared Ownership properties and developments in Surrey
Local properties in Surrey
Surrey is synonymous with living the good life. It is located in one of the most beautiful parts of south-east England yet has easy access to motorways, major airports, and of course London. Surrey is perfect for those who travel for business or pleasure, and families with an eye on a quieter life without compromising on access to local amenities and attractions.
- There is a wealth of wonders that draw people to Surrey, as well as the rolling countryside and plentiful green spaces, the schools here are of exceptionally high quality.
- The schools in Surrey have been ranked as among the best in the UK. Top of the list are Guildford High School and Royal Grammar School, both independent secondary schools, for A-level and GCSE achievements.
- Surrey sits within easy reach of London, whether you choose to travel by road, rail or air. The M25 and M23 and an extensive A-road system nearby makes travelling by car a dream; there is also a direct train from many Surrey towns straight to the City, and let’s not forget that Heathrow airport is on the doorstep, and Gatwick just a short drive away.
- Surrey and Sussex Healthcare NHS Trust oversee six hospitals in the following locations in Surrey: Ashford, Redhill, Epsom, Frimley, Kingston, Guildford and Chertsey, all of which have Accident and Emergency departments. There are also several private hospitals in Ashtead, Caterham, Horley, Guildford, and Woking to name but a few.
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.