Property to part buy - part rent

If you would like to own your own home, but cannot afford to buy on the open market, shared ownership could be for you. Shared ownership allows you to buy a share of a property and pay rent for the remainder.

You may need to take out a mortgage to purchase a share in the property, but the rental element is based on 2.5% of the remaining share and therefore the total monthly amount normally works out at considerably less than you would have to pay on a mortgage for the whole property.

On a 2 bedroom flat which would cost £125,000 on the open market, if you purchased a 40% share with a full mortgage you would pay £292.30 for the mortgage repayments, but only £156.25 rent on the remaining 60% share (plus service charges). This would therefore be affordable for a single person earning only £16,641.

Properties currently available:

• 44 & 46 Vine Court, Cannock (Re-sale)

You can also visit The HomeBuy Agent's website for details of all shared ownership schemes across the West Midlands.

HomeBuy Agent

To apply please download both application forms:

Shared Ownership Application Form

Homebuy Agent Application Form