Canterbury is a city full of historical and natural beauty. It has a unique and mesmerizing style in its architecture and layout. Canterbury is one of the few walled cities in England. Although its walls don’t cover the entire city, they cover its central part.
This beautiful and historical city is at the heart of Kent County in England. It is a short distance away from London, making it ideal for people working in London. You can commute between London and Canterbury through High-speed trains.
These trains travel at 120 to 130 Km per hour so going to or from London takes less than an hour. You can work in London and live in Canterbury. This way, you can enjoy the peaceful atmosphere of Canterbury and the fantastic opportunities of London at the same time. Some people choose to buy or rent a house in Kent or Canterbury (https://moathomes.co.uk/county/Shared-Ownership-Kent/Canterbury) because house prices are too high. Some do this because they can’t get used to the small and cramped houses and apartments in London. Some can’t get used to the higher costs of living in London.
For whatever reason buying a house in Canterbury is undoubtedly a good choice. The average house price in Canterbury is 331,378 pounds, and the median house price is 690,000 pounds. Overall, a same-size house or apartment in Canterbury costs much less than in London. If you have money, buying a home that meets your requirements is undoubtedly the best choice. But if the money you have is not enough to buy a decent house even through a mortgage, buy a home through shared ownership.
Many properties in Canterbury are available for sale through a shared ownership scheme. Shared ownership is a government-sponsored scheme for low-earning English citizens. You must earn less than 80,000 pounds to be eligible for this scheme. Buying a house through a shared ownership scheme is much easier than buying an entire home. In shared ownership, you only buy a part of the shares of the home you will live in. Most of the time, you buy anywhere from 25% to 75% of the shares.
Benefits of shared ownership properties in Canterbury (UK)
The benefit of this approach is that you can buy an appropriate amount of shares through a mortgage. After you buy some shares, you become one of the owners of the house. You can immediately start living in the house. If you think that someone else will come to live in with you, then don’t worry. Shared ownership doesn’t work that way; you just need to pay the reasonable rent for the house shares you don’t own.
If you buy 50 per cent of your house, you need to pay 50% of the rent to the other house owner. The other owner is usually the property company which sold the house shares to you. The main difference between renting and shared ownership is that you can live in the house without worries.
As you are the partial owner of the house, the property company has no right to ask you to vacate the house. That is only valid if you pay the rent and mortgage on time. If you don’t pay the rent properly, they have the right to take action against you.
