The campaign, backed by nearly 50 other housing associations across the country, aims to raise the profile of shared ownership and explain how it works to potential buyers.
Shared ownership is another way to get on the housing ladder, allowing buyers to purchase a percentage of the value of the home (which means a smaller deposit and mortgage), then pay rent on the rest. Buyers can also buy more shares over time, until they own it 100%.
The campaign began in January but was paused after the housing market was effectively suspended due to the coronavirus crisis. However, many housing associations have seen increased interest in shared ownership since the coronavirus lockdown, as potential buyers have looked for properties with more space to work from home, a garden, or located closer to friends and family.
The three-year campaign will reach potential buyers through online and social media advertising, as well as a new website (sharedownership.net) which will help them to find out whether shared ownership is right for them. The website also for the first time brings together shared ownership homes listed for sale across the country, making it easier for people to buy with shared ownership.
In 2018/19, housing associations built more than 14,000 new shared ownership homes in England, allowing tens of thousands of people to get a foot onto the housing ladder. Housing associations have been providing shared ownership for decades, but awareness and understanding among the public is not as high as it deserves to be, and there are misconceptions about it that need to be tackled.
Peaks & Plains are committed to building future homes for shared ownership within Cheshire East, Cheshire West and High Peak. Our development pipeline includes a mixture of different dwellings from urban apartments in the centre of Macclesfield to open plan family mews’ in Whaley Bridge.
Justine Gore, Assistant Director of Development says:
The Trust is committed to providing affordable housing tenures of choice including shared ownership for customers who aspire to purchase their own homes.
The shared ownership product has become a popular route for first-time buyers to get onto the property ladder. We are able to offer support and advice to guide customers through the process of buying a new home.
Handing over the keys to a property is the beginning of a new chapter in the lives of our customers.
Find out more about shared ownership here.