Getting onto the property ladder can be expensive – but buying a home with Shared Ownership can make it more achievable.

From saving for a deposit to moving costs and solicitor fees, it can seem as though there are countless and costly hurdles between you and your dream home. At Legal & General Affordable Homes, we want to help your money go further. You’ve saved hard for the deposit and made the commitment, so why not let us help you cover the moving costs? If you buy at Rogerson Gardens in Preston via Shared Ownership, we’ll contribute £500 towards your legal fees.

But first, what is Shared Ownership?
Shared Ownership allows you to buy a percentage of a property and pay a subsidised rent on the remaining portion, the key advantage being that you generally pay less each month than you would privately renting or paying a traditional mortgage. The deposit you will need is also much lower than if you were to purchase a home on the private market.

Can I buy a Shared Ownership property?
Here’s a helpful list to see if you are eligible:

• Your annual income – combined or individual – must not exceed £80,000 if you live anywhere in England (the limit is £90,000 if you live in London).
• You will also need the deposit amount, usually between 5-10% of the share you are purchasing.
• You don’t have to be a first time buyer. If you own another property – either in the UK or abroad – you must be in the process of selling it to be eligible for Shared Ownership. If you are currently privately renting or living at home with friends or family, you are also eligible.
• You must have a good credit history.

Do I have to live with anyone else?
No, unless you choose to, of course. A Shared Ownership home is yours, just like it would be buying on the private market.

Is it difficult to get a mortgage?
No, but you will need a Shared Ownership mortgage. The majority of lenders will provide mortgages for Shared Ownership and there are lots of lenders who specialise in it. All mortgage lending comes down to your income, outgoings, credit rating and the size of your deposit. You can use our affordability calculator to see how achievable home ownership can be for you.

Tell me more about Rogerson Gardens!
Rogerson Gardens is the name of Legal & General Affordable Homes’ new scheme in Preston with beautiful, modern, energy efficient new build two- and three-bedroom houses. Available via Shared Ownership and located in the rural village of Whittingham, near Preston, the houses are full of light and spacious – they include a home office and a large, private garden.

The M65, Preston train station and a regular bus service will connect you to the nearby towns and major cities. Or if you want to head away from the crowds, Lancashire is full of natural wonders. There are waterfalls, woodlands, historic ruins, monuments, rivers and canals. Head up to Longridge Fell for amazing views of the Forest of Bowland, or pack yourself a picnic and take in the coastal views along the wonderful Wyre coastline.

A 40% share of a home at Rogerson Gardens is available from £74,000 and what’s more, LGAH will contribute £500 towards your legal fees to help take the stress out of making your move on the property ladder.

You can find out more about Rogerson Gardens here and about Shared Ownership here.