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The Low Down

Why buy a Shared Ownership home with Guinness Homes?


The first happy customers to put an apartment under offer at Points Cross found Shared Ownership to be the right option for them, like many homeowners looking for alternative ways to buy a home.

‘I had no idea Shared Ownership even existed’

From first-time buyers priced out of the open market, to families looking for spacious homes and downsizers ready to make a change, Shared Ownership has already helped many buyers across the country find their next home.

Take Anna for example, a 35 year old International Channel Manager who was renting on the opposite side of the city from all her friends and keen to find a place of her own in London. Considering all her options – either renting or possibly even moving to another country – she discovered Shared Ownership.

Anna comments: “I had no idea that Shared Ownership even existed. My mortgage broker advised that this could be suitable because I didn’t have enough saved to buy fully outright and Help to Buy just wasn’t quite right for me. I did some calculations regarding my monthly payments and realised that Shared Ownership would be a much better option than renting.”

After falling for the canal-side location with easy connections across London, the large bright apartments and the roof terrace, Anna purchased a 25% share of a 1-bedroom apartment at Leaside Lock in Bromley-by-Bow with plans to increase her 25% share through staircasing.

Is Shared Ownership the right option for me?

Shared Ownership can be a more affordable alternative to traditional homeownership for prospective buyers, especially for those seeking their first home. With the opportunity to further increase the percentage share over time, known as ‘staircasing’, owners can control what they own based on their affordability.

With Shared Ownership, you buy a percentage, pay rent on the rest and, as with properties at Points Cross, pay a monthly service charge (this goes towards the maintenance of communal areas & amenities). Guinness owns part of the property – but you’re living there, you decorate it and decide when the time is right to sell for you. Typically buying a share means a smaller deposit and a smaller mortgage. A smaller mortgage means smaller repayments but you’ll also need to pay:

1. Rent on the share of the property you don’t own

2. Monthly service charge

3. Ground rent (in select cases – this is nil at Points Cross)

Despite this, Shared Ownership is still a sooner first step on the ladder for lots of people.

That’s where Guinness Homes comes in, to provide high-quality homes and services in places you want to live. There are homes available and coming soon across the country in Brighton & Hove, Bristol & London as well as Crewe, Waterlooville, Gloucester and many more. 

‘I was able to afford somewhere that otherwise would never have been in my price range’

Shared Ownership in your area could be your way onto the property ladder – but don’t take our word for it! Listen to Leaside Lock buyer and resident David, who shared his experience of buying a home with Shared Ownership.

Ready to learn more about Shared Ownership at Points Cross? Book your appointment at our Marketing Suite today.

*Shared Ownership – Terms and conditions apply. Application criteria applies. Minimum and maximum share values will apply and rent is payable on the unsold share.

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  • Please note: there are no rental properties available with Guinness Homes.