£75k for a new build, seems suspicious

[MyDeepPearlNewt]

3 bedroom townhouse in a very nice area, built in 2026, solder panel system and only £39 a month maintenance fee, 75k 50% ownership and £300 rental. It sounds too good to be true right?

What part of the country?

Mmm it does actually

So £150k for the house? How does that compare to houses in that area?

Yes, even at 50% shared ownership this sounds very cheap. Hope it turns out to be OK.

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Most similar properties are around 275-300k for 3 bedrooms

Is it affordable housing?

So it’s £300 rental per month?
What’s the comparable full rent on a property like that?
Also what would be the £75 & 150 k mortgage repayments per month?

Can you post a link? Perhaps we can investigate on your behalf.

Locally advised and partnering with a bank, don’t know which as details not fully announced. Properties will be available fully from summer 2026, currently available locally. Available from 10% deposit. Also in partnership with our local council, £400 application fee. I’m honestly tempted to just do it as I never thought I’d own my own home

Given the very small number of properties in this development I’d rather not. My area is awful for landlords buying cheap and leasing for stupid amounts.

I'm wondering if it's deliberately misleading info, e.g. prices start from £75k for 50% but that's actually the price of the 1 bed flats and only when you dig deeper can you get the 3 bed price.

Well I’m renting a 3 bed 6 minutes drive away and pay £960 a month

Sounds like it’s £75k for 25% share rather than 50%

Do you really think they’re not being marketed as widely as possible, just like all other developments??

Are you sure it’s not 25% shared ownership - there may have been a mistake in the listing?

I
although it sounds a great way to get on the property ladder

How much to buy the other 50%, op?
Bet it’s not £75k.

That's really cheap ! so I guess it really depends on where in the UK this is.

I know a few months ago in Torquay, Devon there was a flat, 2 bedroom coach house type flat up for £90,000 shared ownership or £180,000 if buying it in full and the rent was around £450ish.
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@KilkennyCats the other 50% would currently be valued the same but will increase over time along with market prices.

@MyDeepPearlNewt Some shared ownership properties can ultimately be bought outright through staircasing but many limit the share you can buy, usually 80%, so that the property when sold on in the future is still available as a shared purchase ownership to new buyers. This potentially reduces the market value as it will never be possible to own the freehold or own without still needing to pay rent, even if the mortgage is paid off. Having said that it does seem a large discrepancy between this and market prices so may be a typo.

Also private landlords aren’t allowed to purchase shared ownership properties, defeats the point of them being classified as affordable housing.

I know nothing about shared ownership schemes and values and costs.

But, if it means you could own a house and thats something you want to do...get your name down! Nothing wrong with getting all the info.

Sounds like there are posters on here that know their stuff when it comes to this, so get all the information, post it here and see what everyone thinks.

Exciting!

how can anyone offer a meaningful comment when we cannot see the property details to allow informed opinion

it appears you just want people to blindly confirm your own bias.

sorry but that is precisely how shared ownership works.
Sales price, your % share of it, their % share of it. Rent payable on the % you do not own.

For a property to be restricted to 80% max ownership it would normally mean it is in a DPA - Designated Protected Area (rural, national park, area of outstanding beauty). The selling price in that case would reflect the fact you can never go over 80%, so it would be lower than a non SO of comparable size in that area to start with.

There are few lenders offering mortgages for such DPA property due to obvious extra risk if needing to repossess.

Some people in similar schemes have found the maintenance fee goes up by large amounts and it’s then difficult to sell the house on. Investigate whether there will be any limits on how much the fees might rise in the future.

My bet is that it's either £75k for 25% or that price is for a small flat and there's either a mistake in the listing or it's deliberately misleading to draw people in.

There's no way they'll sell you half a 3 bed new build house for £75k in an area where a whole second hand one costs £275k/£300k.

I'd also want to know what I was getting for the £39 maintenance fee and how much this could increase.

It'll likely be "starting from" and there'll be apartments and houses that go up to the size you're quoting.

However, without even an area to go on, no one here can tell you if that's too good to be true or not. If it is the prices and size you're quoting, it's very different if it's in London or the South East to in land North East.