Shared ownership is available at Willow Woods

Our shared ownership scheme is available at Willow Woods, making getting on the property ladder more achievable. You can start by buying up to 75% of your new home at Willow Woods with a smaller deposit and lower monthly payments. Over time, you can buy more shares, increasing your ownership and reducing your rent.

It’s a flexible way to step into your new home and become part of this exciting new community – without stretching your budget.

What is Shared Ownership?

Shared Ownership enables you to buy a share of a home with a mortgage, and pay rent on the remaining share. There will be a lease for the portion of the home you don't purchase, with Sage Homes.

Shared ownership means:

• You can buy shares between 10% and 75%*
• A smaller-than-average deposit is needed and is based on the share of the home you're buying
• Your monthly mortgage payments will be based on the share of the home you own• A smaller-than-average deposit is needed and is based on the share of the home you're buying
• Your monthly mortgage payments will be based on the share of the home you own
  Your monthly rent payments are paid to Sage Homes• You can buy more shares, or take your ownership to 100% at a later date, also known as staircasing*

Benefits of Shared Ownership

• Lower initial deposit compared to full homeownership.
• Gradual ownership growth through staircasing.
• Access to a wider range of homes in the housing market.
• Peace of mind knowing you won't have to worry about the landlord selling the property.
• A choice of new build homes in different sizes and locations.
• A managable way of stepping onto the property ladder

Myth Busting

• Myth 1: "You don't own the home with Shared Ownership."

Fact: With Shared Ownership you can buy a share of the home (usually between 10%-75%), and with staircasing, you can increase that share until you fully own it.

• Myth 2: "Shared Ownership is only for people on low incomes."

Fact: Anyone earning less than £80,000 is eligible to buy with Shared Ownership (or £90,000 if buying in London). We will put you in touch with a Financial Advisor who will help you ensure you buy a share that is affordable for you.

• Myth 3: "The rent on the unowned share is really expensive."

Fact: Rent is set at a rate of 2.75% of the unowned share*, which is often less than what you may be paying to rent on the open market.

• Myth 4: "Shared Ownership properties are difficult to find."

Fact: Many Shared Ownership properties are located in desirable locations, especially in urban or developing areas. The properties are often new builds or in areas undergoing regeneration.

• Myth 5: "It's hard to sell a Shared Ownership property."

Fact: When you decide to sell, you will be guided by our Homeowner Services Team who will walk you through the process to get the home on the market. A potential purchaser must buy the share that you currently own as a minimum but could opt to buy a larger share or 100% of the property

• Myth 6: "You can't make changes to a Shared Ownership home."

Fact: You can decorate the home to make it your own, but you are unable to make any changes to the structure of the property without permission from Sage Homes.

• Myth 7: "You have to share your home with someone else."

Fact: Shared Ownership refers to sharing ownership of the property, not sharing the property itself. You have your own private space, just like with full homeownership.

• Myth 8: "Pets are not allowed in Shared Ownership homes." 

Fact: Pets are often allowed*, but you usually need permission from Sage Homes. Check your lease for specific rules.