Shared ownership is a fantastic way of helping people who can’t afford to buy a home outright get onto the property ladder. It’s a part-buy/part-rent home ownership scheme. Based on your household income and lifestyle, you can buy a share of your home and pay rent on the remaining share.
You can buy as little as 25% and then gradually increase your share all the way to 100% and therefore own it outright (although some properties are exempt from outright purchase). We have properties across Norfolk, Suffolk and Cambridgeshire.
Our skilled and friendly sales team will offer you expert guidance and practical assistance throughout the buying process.
We help numerous people every year to buy their dream home and with the minimum of stress. Send an enquiry online or call 01603 255444 for advice and guidance.
Appointing a solicitor
Buying your first home is one of the biggest decisions you will make in your lifetime, and so you need to be certain that your purchase is in good hands. It is advisable to instruct a solicitor who has good knowledge and experience of shared ownership leasehold purchases.
We have a panel of solicitors who may be able to assist with your purchase. However, please note that you are not obliged to use a solicitor from our panel.
When it comes to buying a shared ownership property it is important that you choose a mortgage specifically intended for this type of scheme. Not all major lenders offer shared ownership mortgages, so receiving informed and professional advice from an Independent Financial Adviser (IFA) with the experience of shared ownership and leasehold purchase is essential.
We have an approved panel of IFAs who can help you choose the right mortgage. Please ask a member of our sales team for advice on who would be an appropriate IFA to speak to. Please note that we are not recommending the services of an advisor from our panel and you are not obliged to use them.
It is also important to remember:
Flagship Homes is not regulated by the Financial Services Authority to provide financial advice and you should seek advice and recommendations from an independent financial advisor regarding mortgage products and availability.
Your home may be repossessed if you do not keep up repayments on a mortgage, rent or any other loans secured against it. Please be aware that the value of your home can go down as well as up.
New Home - A Guide to Shared Ownership
This guide offers you advice and guidance on how shared onwership works and details of eligibility criteria, costs involved, and your responsibilities as a leaseholder.DOWNLOAD PDF
Homefile - A Buyer's Guide to Home Ownership
When moving into your new home, your welcome pack will include the 'Homefile'. This booklet contains key information about Flagship, your home, how it works and your rights and responsibilities.DOWNLOAD PDF
Homefile - For Flagship Leasehold Customers
This leaflet offers information on rent and service charges, household safety, and how you can get more involved in your community.DOWNLOAD PDF
Leasehold - Administration Charges: A Guide for Home Owners
This leaflet provides information on the services that are subject to an administration charge, and what you will need to pay.DOWNLOAD PDF
Staircasing - A Guide: Owning More of Your Home
This leaflet offers information on staircasing, how it works and guides you through the process of buying more shares in your home, including outright ownership.DOWNLOAD PDF
Moving On - A Guide to Selling Your Home
Looking to move? When you decide that the time is right to sell your home, you should first of all refer to your lease to see if it contains any restrictive clauses.DOWNLOAD PDF
Building Insurance - Summary of Cover (Housing Policy)
This is a summary of the significant features, benefits and limitations of the cover provided to leaseholders or shared owners by Zurich Municipal’s Housing policy. The full terms, conditions and exclusions are shown in the Policy Document which can be obtained from Zurich Municipal.DOWNLOAD PDF