Make your rent work for you
Start your home ownership journey in the kind of property you want - for less than you currently pay in rent.
Why shared ownership makes sense
There's no better time to invest in your future and start your home ownership journey. Demand for rental properties remains high (source: Zoopla Rental Market Report, December 2023), while the number of rental properties listed is in decline.
In this environment; why be a renter, when you could buy with shared ownership, potentially for less than you currently pay in rent?
Latimer by Clarion Housing Group has many new-build shared ownership homes available across the country including York and Manchester to London, East Anglia and the south.
Turning your rent into an investment
London example
According to home.co.uk, the average asking rent for apartments in Croydon, Greater London was £1,905* per calendar month. With shared ownership, your outgoing could be £1,217 a month for a one bedroom apartment at Crescent Gardens.
That's an approximate saving of £688 a month, based on:
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A minimum 25% share of £88,125 (Full Market Value £352,500).
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5% mortgage deposit of £4,406.
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£83,719 mortgage value.
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£463 monthly mortgage repayments at a five-year fixed rate of 5.26% on a 30-year term.
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£606 a month rent calculated on 2.75% annual cost of the remaining share value.
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£148 a month estimated service charge.
National example
According to home.co.uk, the average asking rent for apartments in Manchester was £1,659* per calendar month. With shared ownership, your outgoing could be just £1,004 a month for a two bedroom house at Furness Quay.
That’s an approximate saving of £655 a month, based on:
- A minimum 35% share of £86,800 (Full Market Value £248,000).
- 5% deposit of £4,340.
- £82,460 mortgage value.
- £456 monthly mortgage repayments at a five-year fixed rate of 5.26% on a 30-year term.
- £369 a month rent calculated on 2.75% annual cost of the remaining share value.
- £179 a month estimated service charge.
Finally, I have achieved something I didn’t think I could do on my own. Not only am I a homeowner, but I’m proof that if you truly put your mind to it you can make those moments you have always dreamed about happen.
Rebecca, who bought a 30% share in a brand new home at Junction West, Southall, London.
There are more ways you can benefit
Day-to-day costs may also be lower. Brand new homes require less maintenance and tend to be more energy-efficient than existing homes. Your energy bills could also be lower due to more energy-efficient design features.
For example, occupiers of newly built homes, on average, could:
- Spend up to £780 less per year on energy (apartments).
- Spend up to £2,200 less per year on energy (houses).
- Save 2.2 tonne on carbon emissions per year.
Source: Home Builders Federation (January 2024 article)
For some of our shared ownership homes, Latimer can provide buying assistance and incentives such as a deposit contribution, legal fees paid, or even covering service charges for a limited time; to help even more with getting you on your way to home ownership (terms will apply).
Speak to your sales adviser if you're already in touch with us. Or, register your interest in one of our developments and we'll be in touch with more details.
London and south
Brunswick House
Neasden Lane, NW10. One, two and three bedroom apartments in a low rise central location in Zone 3.
Chalkhill View
Chichester, PO19 6EG. A landmark collection of beautiful new homes and apartments nestled close to the breathtaking parkland of Graylingwell Park.
Crescent Gardens
Croydon, CR0 6GN. Brand new studio, one and two bedroom apartments in the centre of Croydon.
Around the country
The Cocoa Works
York, YO31 8TA. A new community of studio, 1, 2 and 3 bedroom apartments, set within the former Rowntree Factory on Haxby Road, York
Furness Quay
Salford, M50 3XZ. One, two and three bedroom apartments and duplex townhouses within the very heart of Salford Quays
Sherford
Plymouth PL9. Two, three and four bedroom homes within a walkable, safe and vibrant community.
Shared ownership
A purchase option for you that is achievable.