Shared ownership homes allow people to get on the property ladder and own a part of their home. This scheme has many benefits that helps plenty of people become property owners.
Located in the county of Buckinghamshire, Milton Keynes is a great place to buy a shared ownership home. At Accent, we have many affordable homes across the country that are available to buy.
In this Accent blog, we will explain shared ownership and provide information on living in Milton Keynes.
What Is Shared Ownership?
When you can’t afford the full selling price of a property, the shared ownership scheme allows you to buy a share and pay rent on the remaining.
You can buy between 25% to 75% of the home’s value from a housing association, putting down a minimum deposit of 5%. That 5% deposit is only for the share you’re buying, not for the whole property.
And later if you have more money and wish to buy a bigger share, you can.
To enter into a shared ownership scheme, there are eligibility criteria a person must meet:
- This must be your only home – you’ll either be a first-time buyer or a previous home owner that can no longer afford to buy a home now.
- Your household must earn less than £80,000 per annum. Or less than £90,000 if you’re in London.
- You must be a British or EU/EEA citizen. If not, you must have indefinite leave to remain.
- A deposit is required of the share you are buying so you must have at least 5-10% of that.
Is Milton Keynes A Good Area To Live?
Research by Property Detective found that Milton Keynes was one of the best areas to raise a family in the country. Their research included information on playgrounds, parks, schools, and nurseries as well as looking at other features like noise pollution and crime rates.
Although there’s quite a few developments and it’s a very urbanised place, Milton Keynes has some scenic hiking trails and nature reserves to visit. Plus, they have historical sites and water sport activities to enjoy at Willen Lake.
What Can I Do In Milton Keynes?
Milton Keynes has plenty to offer.
Milton Keynes is a great hub for shopping and leisure activities. So whether you want to hit the streets or have an adventurous day out, Milton Keynes has it all. And if you’re a foodie, there are some incredible dining out options.
With indoor golf, bowling and cinemas, theatres, and art galleries, there’s something for everyone. Even those thrill-seekers – there’s wall-climbing, snowboarding, and skydiving activities.
Our Shared Ownership Homes In Milton Keynes
All our shared ownership homes that are currently available to buy are viewable on homemadehomes.com.
In 2021, planning permission was granted for our development of 27 new affordable homes in central Milton Keynes. 8 of these affordable homes will be shared ownership and are all planned to be 4 bedroom houses.
We have helped hundreds of people across the country fulfil their ambition of being a homeowner.
If you have any questions or want information about Accent’s shared ownership homes then reach out and let us know.