Shared Ownership

What is shared ownership?

There are a number of different kinds of shared ownership. Currently, North Devon Homes only offers shared ownership in respect of newly built houses under the New Build HomeBuy scheme.

Under New Build HomeBuy

* you can buy a share in a new property as low as 25%, depending on the overall viability of the scheme

* you pay rent on the share you do not buy - typically this is at a rate of 3% of the market value of the share

* you can but extra shares until you own the property outright at 100%, or in the case of some rural schemes you may only increase your share to 80%

* you will usually need to live or work in, or have a link with, the location where the shared ownership properties are being built

* applicants with a household income of up to £60,000 p.a. can qualify for the scheme.

South West Homes

South West Homes is the HomeBuy agent for the South West and can offer you advice and information on the availability of properties under New Build HomeBuy and many other forms of shared ownership and shared equity schemes.

If you are interested in shared ownership whether its through North Devon Homes or any other housing organisation in the South West, you must first register with South West Homes.

Click here to go to the South West Homes website.

For more information about shared ownership, or a copy of North Devon Homes' Your Guide to Shared Ownership - New Build HomeBuy leaflet, please contact Mike Cox the Home Ownership Coordinator on 01271 312510.

Latest News - Shared ownership properties currently available from North Devon Homes

We are currently in discussions with developers regarding possible future schemes but at present we have no properties under construction or available for sale.