Brighton and Hove

The city of Brighton is one of the most diverse, vibrant and appealing in the country – and therefore, the property in the town is in high demand, especially for first time buyers. When considering buying your first property in Brighton, just like London, it may seem like you have a mountain to climb to get your foot on the ladder, but with shared ownership in Brighton Hove, your dream of home ownership in this bright, diverse, incredibly popular city, that is just an hour from London, can become a reality.

Shared Ownership Is Great For First Time Buyers

At Southern Home Ownership, we are here to give you a helping hand to get on the property ladder for first time buyers looking for their first home. 

With lots of properties for sale through shared ownership in Brighton that offer affordable ways for would-be buyers to purchase shared ownership homes, we are here to make your property search easier and can also advise on government schemes that may bring many Brighton properties within your reach financially. 

Shared ownership, is a government initiative that allows you to buy a share of a property, based on what you can afford. That initial share usually ranges between 25 and 75% and is financed by a  mortgage. You can then increase the share that you own at a later date when you have paid off a larger proportion of your mortgage and becomes affordable to do so. 

With a perfect balance of coastal town and countryside living, this is sure to be perfect for any first-time buyer looking for a unique and contemporary new home. 

Apply today to search our listings and begin your journey as a homeowner!

Location And History

Brighton is a town in East Sussex, England. It lies on the south coast of England, and is around an hour's drive from London. A bustling seaside city, the town has a population of about 273,000 people and is known for its lively nightlife and diverse population.

The town has a long history as a fishing town, and it was first recorded in the Domesday Book in 1086. The town's name is thought to derive from the Old English words "brycg" and "tun", meaning "bridge town". In the 19th century, Brighton became a popular destination for wealthy Victorians, who built lavish seaside villas in the town. 

Today, Brighton is home to a diverse population of residents, and its seaside location makes it a popular tourist destination. Overall, Brighton is one of the country’s most colourful and creative places and attracts lots of start-up businesses and organisations operating in the creative industries. As such, homes for sale in Brighton are in high demand so you should start your search early.  

Considering shared ownership in Sussex? 

Traveling To, From, And Around Brighton

If being well connected to major motorway networks, and being close to London and train lines is important to you when deciding where to live, then this is a town that has this side of things well covered. There are excellent transport links in this popular commuter town for those working in London, and it's the closest seaside town to the capital.

Brighton is served by a direct train that takes less than one-and-a-half hours to get to London and boasts an excellent network of buses and trains to other local towns and villages, making it exceptionally easy to get to, from, and around.

Although the city centre can be quite busy for cars, it is fairly accessible for those that drive, offering many affordable car parks and easy links to other nearby areas.As for things to see, there are many famous and unique landmarks in Brighton – popular hangouts for both locals and visitors alike. Take the Royal Pavilion, for example: this striking Grade 2 listed exotic palace is a former royal residence that was built more than 200 years ago for King George IV. It now hosts a range of events, as well as being open for visitors all year around.

Shopping in Brighton is another popular pastime. As well as all the regular high street stores, the city features an eclectic mixture of bohemian boutiques down winding cobbled streets. 

For those looking for properties for sale in Brighton, there are excellent transport links in this popular commuter town for those working in London. The closest seaside town to the capital, Brighton is served by a direct train that takes less than one-and-a-half hours to get to London. It also boasts an excellent network of buses and trains to other local towns and villages, making it exceptionally easy to get to, from and around.

Although the city centre can be quite busy for cars, it is fairly accessible for those that drive, offering many affordable car parks and easy links to other nearby areas.

Things To Do

Whether visiting for the day, enjoying a city break, or settling down after purchasing a shared ownership property, there is plenty to see and do here including the beach, famous landmarks, public art, and shopping. 

Famous and unique landmarks attract locals and visitors alike including, the Royal Pavilion. This striking Grade 2 listed exotic palace is a former royal residence that was built more than 200 years ago for King George IV. It now hosts a range of events, as well as is open for visitors all year around. Other famous landmarks include the Palace Pier, and the Brighton Dome. 

This seaside resort is equally popular as a holiday destination, and there is, therefore, no shortage of things to do that attract visitors from all over the country. The infamous stoney Brighton beach is synonymous with the city, as is its beautiful traditional pier. 

Shopping is another popular pastime and the town has a diverse range of shops and restaurants, as well as a busy nightlife scene.  On top of the regular high street stores, the city features an eclectic mixture of bohemian boutiques down winding cobbled streets and there are also many museums and art galleries to explore. 

With its lively atmosphere and wide range of attractions, Brighton is a popular destination for tourists, residents and students alike.

Education In Brighton Hove

Brighton is also home to several universities and higher education institutions including; the University of Brighton, The University of Sussex, the Brighton and Sussex Medical School, and Greater Brighton Metropolitan College. 

Shared Ownership Properties For Sale

Southern Home Ownership is one of the biggest shared ownership property specialists in the UK. Our website is an ideal place to start for home buyers, including first time buyers, looking for affordable home ownership, a simple buying process, and easy to use property search tool when compared to home shopping on the open market.

To take the first steps to getting on the property ladder - simply search for shared ownership homes in this area by using our handy property search function.

If you would like to register your interest in a specific listing, please get in touch with our team at sales@shgroup.org.uk or by calling 0300 555 2171.

Take a look at these Shared Ownership options in Brighton Hove including flats in refurbished victorian villas on Preston Road, Spacious 2 bed flats, and sea front apartments. We also have t our newest development, Artisan, now available and a new development of one and two bedroom apartments, Grand Avenue is now available for registration!

FAQs

What is Shared Ownership?

Shared ownership is a low-cost residential home ownership scheme that helps eligible purchasers climb the house ladder faster. It is ideal for those where a large deposit isn't an affordable option, as your first share will typically be for between 25 % and 75 % of the overall value. You will have a mortgage loan for your share of the property and on top of the mortgage, you will have a service charge, which covers the running costs of the building, and a ‘nominal rent’ for the portion that you don’t own.

Shared ownership schemes can make home purchases much more affordable for people who wouldn’t otherwise be able to afford a mortgage for the full value of a home, with the benefit of being able to buy more shares of the property in the future when you can afford it.

One thing to be aware of with shared ownership is that you will need to get permission from your housing association before making any changes to your property, as they will need to approve that the work meets their standards. Overall though, shared ownership is a great way to get onto the property ladder with less financial risk.

Is It Worth Purchasing Shared Ownership From A Housing Association?

Share ownership is generally cheaper than buying from the traditional open market. It's therefore it's an easier option for those who earn lower wages or who can't save 10% or more for a deposit against a full-priced home. If you meet the criteria for shared ownership, it can be a great option and comes with the benefit of having cheaper monthly repayments compared to a direct mortgage. 

What Is The Minimum Income For Shared Ownership?

There are no set minimum income thresholds for Shared Ownership homes because each home will have its own unique value based on the type of property, its location, age and condition. 

It's the property's value that determines the level of income required for both a mortgage on their share and rental payments on the remainder of the listing in question.  Whilst there are no minimum income criteria for shared ownership, there is a maximum income threshold of £80,000 a year (£90,000 in London) per household. 

This maximum income threshold is in place to ensure that the scheme is restricted to those who need it, rather than those who could easily buy a house on the open market.

Why Do You Pay Rent For Shared Ownership

When you purchase a new home through shared ownership schemes with a Housing Association, you own a share of the property and pay rental costs on the remaining share. While this may seem like an unnecessary expense initially, there are several reasons why paying this expense on top of the mortgage can be beneficial. 

First, it allows you to live in a property that you otherwise may not be able to buy due to the price. This ‘part-buy part-rent' idea, is designed so that you don't need to pull together a hefty deposit or suffer under the weight of a large mortgage.

Second, the rent on the remaining share is often used to cover the cost of maintenance and repairs, which can be a significant expense for homeowners. Finally, it can help to build equity in the property, making it easier to sell or refinance in the future. 

How To Find A Shared Ownership Home In Brighton and Hove

If you want to save on rental payments from the open market that don't build equity in your home, it's time to find the perfect place to call home, and there are plenty of affordable shared ownership options for new buyers to choose from in Brighton. 

With Shared Ownership you only need to pay a mortgage and find a deposit for the share of the property that you purchase. You then pay rent monthly to us for the share remaining. From family homes to modern apartments and seafront views, there are plenty of exciting properties to search and buy. Simply register with the team to find out more. 

Whether you're first time buyers looking to take your first step onto the property ladder, want to buy additional shares, or are looking to sell up and move into a new home, our Southern Home Ownership site can help. Our property search showcases affordable shared ownership homes across London and the South East from dozens of UK housing providers to help you through the buying process. 

Call our team on 0300 555 2171, register online to receive alerts, or search our list of available properties and find your new Brighton and Hove home.