If you’re looking for a home in Bourne but can’t afford the full market value or deposit then you’re where you need to find out everything you need to know.
Shared ownership allows individuals with a chance to get on the property ladder. It doesn’t matter if your by yourself, in a couple, or have a family, they’re designed for all. And here at Accent Housing, we have a range of affordable homes to buy across the nation.
In fact, Accent Housing has been providing homes across the UK since 1966 and we believe that everyone has the right to have a safe space to call home.
In this Accent blog, we’ll provide you with information on shared ownership and the area of Bourne. We’ll also brief over your next steps if you’re seriously considering a shared ownership tenancy.
What is Shared Ownership?
Shared ownership is an initiative for buyers who are unable to afford the property at a full market value. It allows them to purchase a share in a new build or resales property which is why shared ownership is also known as ‘part-buy, part-rent’.
A first time buyer will pay a mortgage on the share that they own while paying what remains in rent to a housing association. The buyer only needs a mortgage for the share they’re purchasing so the amount of money required for a deposit is usually quite lower in comparison to an outright purchase.
Am I Eligible For Shared Ownership?
Here are some of the rules of qualifying for the shared ownership scheme:
- This must be your only home. That means you’ll either be a first-time buyer or a previous homeowner who no longer owns a home and can’t afford a new one.
- Your household must earn £80,000 a year or less, and £90,000 or less if you’re London based.
- If you can buy a similar home outright, you can not purchase a shared ownership home.
- You will need a minimum deposit, typically between 5%-10% of the share you’re buying.
Is Bourne A Nice Place To Live?
Bourne is a great place to live!
The market town of Bourne is situated on the eastern side of the South Kesteven district in Lincolnshire. Known now as Wellhead Gardens, Bourne was built around a series of natural springs and dates back to the times of the Anglo Saxons.
Their local bus service runs regularly to the nearby towns of Spalding, Stamford, and Market Deeping as well as regular service to Peterborough. Plus, it’s just under an hour’s drive to the ever popular resort of Skegness in England’s East coast.
If you’re a shopper, don’t worry. 30 minutes away, the high streets of Spalding are bursting with shops, including over 50 premium brands. And when you’re tired, there’s plenty of cafes and restaurants for you to choose from.
Educational standards are high in Bourne and it’s no surprise why. They have some of the best schools in the country.
In fact, the Bourne Grammar School is renowned for an excellent standard of education and the pupils at this school generally achieve the best GCSE results in Lincolnshire, Rutland, and Peterborough!
Every school in Bourne is rated either good or outstanding and GCSE results in the local schools are above average.
There’s so much to see in Bourne, and definitely a spot for those nature lovers.
Bourne Abbey is one of the heritage buildings in Bourne, alongside the Red Hall, The Angel Hotel, the old Town Hall, and the old railway station.
Quiet and atmospheric, Bourne Woods is an ancient woodland with stunning scenes. There’s walking trails and cyclist routes, as well as ponds, designated ponds, and even horse riding routes.
And nearby to Bourne Woods, just ten minutes away, is Grimsthorpe Castle. This castle boasts acres of gardens, state-of-the-art rooms, an adventure playground, and special events that are held all throughout the summer. Special events such as carriage rides.
All those acres of wood parkland leads for very special walks on their trails where you can discover three species of deer!
Does Accent Have Shared Ownership Homes in Bourne?
All of our shared ownership homes for sale are available to view on homemadehomes.com. Homemade is the experienced property sales team within Accent, offering both new and resale shared ownership homes.
We have shared ownership homes all across the country, including Bourne, from Surrey to Yorkshire. We’ve helped hundreds of people fulfil their homeownership ambition. If you’re eligible for shared ownership, get in touch with Homemade for more information.
We would love to help you find your next home.