Shared Ownership Homes in Ramsey

Shared ownership allows couples, families and single people - a chance to get on the property ladder. Here at Accent Housing, we have a range of affordable homes to buy across the the country.

Ramsey, situated on the outskirts of Peterborough, in Cambridgeshire, is a great place to purchase a shared ownership home. Shared ownership is a great initiative for residents who can’t afford to purchase the entire home.

In this Accent Housing blog, we are going to explain shared ownership and give you some information on what it’s like to live in Ramsey.

What Is Shared Ownership?

Shared ownership, also known as 'part-buy, part rent', is a scheme that allows you to buy a share of a property and pay rent on the rest. It's designed to help people with small deposits and lower incomes get on the property ladder.

You buy a stake of between 25% and 75% of the property from a housing association (a not-for-profit organisation that supplies housing) and pay rent of up to 3% on the remaining share.

You typically need to put down a minimum 5% deposit, but that's only on your share rather than the total property price. You pay for the rest of your share with a mortgage.

Am I Eligible For Shared Ownership?

Before you start looking for shared ownership homes, it’s important that you're aware of some of the eligibility criteria:

  • You will need a deposit, usually between 5%-10% of the equity share you are buying.
  • You will not be able to purchase a shared ownership home if you are in a position to afford to buy a similar home outright.
  • It must be your only home. (So you'll either be a first-time buyer or someone who used to own a home but doesn't anymore and can't afford to buy one now).
  • You'll also need to show that you are not currently in rent arrears and that you have a good credit history.
  • Your household earns £80,000 a year or less or £90,000 a year or less in London
  • You’re a British or EU/EEA citizen or have indefinite leave to remain

Is Ramsey A Nice Area?

Ramsey is a great are to live. In fact, Cambridge News has ranked it in the top 10 areas in and around Cambridgeshire everybody wants to move too.

The market town is a great affordable place to live. With just under 30 mins of commuting time, you can enjoy nature while being close to the city. It's an ideal spot for nature lovers, with its close proximity to Great Fen, a fenland landscape encompassing two National Nature Reserves, Holme Fen and Woodwalten Fen.

What Is There To Do In Ramsey?

If you love the outdoors, Ramsey is a perfect location to settle down. From a variety of areas, just mentioned, to enjoy the outdoors to plenty of activities for all age groups indoors – you certainly won’t get bored.

From an array of activities for the children; The raptor foundation, wacky warehouse, Leos fun zone, the zoo and many more. For all ages, you have a central park, the rally karting centre and lakeside golf and lodge!

I could keep listing off activities, but I don’t want to bore you… you get the gist. If you’re uncertain, simply visit Ramsey for the day or weekend and see for yourself.

Does Accent Have Any Shared Ownership Homes In Ramsey For Sale?

All our shared ownership homes for sale are now available to view on Homemade is the experienced property sales team within Accent offering both new and resale shared ownership homes. We have Shared Ownership properties across the country, including Ramsey, from Surrey to Yorkshire and have helped hundreds of people fulfil their homeownership ambitions.

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