Shared ownership can help you make your first step on the property ladder, acquiring a share in a home that is affordable, based on its market value. This can be as low as 40% to start, with the opportunity to increase in the future.

The costs of buying are also kept low, as your deposit is based on the price of the share, not on the home’s full value.

Blenheim Estate owns the remaining share of the home, on which an affordable rent is paid. Generally, the total rent and mortgage payments are less than a similar home purchased outright or rented privately.

For example, if you wanted to buy a 40% share in a property worth £310,000, the equity you would pay rent on is £186,000. Rent is charged at 2.5% on the un-owned equity share, in this example equating to £387.50 per month.

Should you buy less than 70% of a home initially you have the opportunity to buy further shares in the home– this is called Staircasing. Blenheim Estate allows you as a shared owner to staircase to acquire 100% of the property.

Contact your own Financial Advisor to determine the percentage of the property that you can afford, then it's time to arrange viewings and visit the properties that have caught your eye.

For further information please email our Housing officer at rwakefield@blenheimestate.com