Sharing the cost is the key to an affordable new home in Kent

Shared ownership and shared equity schemes are available across Kent, offering help to those who might otherwise not be in a position to buy a brand new home. A range of affordable new homes in Kent are available under these schemes, which are a partnership between developers, housing associations and the Government.

With shared ownership, purchasers buy a share of their new home, typically 30% to 50%, and pay a subsidised rent on the remainder, plus a monthly service charge. These combined payments are less than the cost of a mortgage for the full value of the new home, and require a much lower deposit. More shares can be bought as household incomes rise, and with more shares, the monthly rent decreases.

Those eligible to take up one of the Shared Ownership schemes must not already own a home, and must live in the new home once they have bought it under the scheme. Key workers, such as nurses, policemen, teachers and social workers, may also qualify under the Shared Ownership Scheme, as are those on a local authority housing list.

Shares are available for a new home at Cavendish Court in Bearsted, with three-bedroom apartments available from £74,000 for a 40% share of the full asking price. These stylish homes from Hyde New Homes are situated in the popular village near Maidstone with easy links to London and the coast by rail and via the nearby M20 motorway. Contemporary fittings, with generously proportioned rooms, offer comfortable living.

Moat housing association is offering new homes at Liberty Park, Hoo Road, Wainscott, under the Government's FirstBuy shared equity scheme. Buyers own 100% of the property from the start but pay as little as 80% of the price up front. This Crest Nicholson-built development comprises new one- and two-bedroom apartments and two-bedroom coach houses. Wainscott village is set in the heart of the Kent countryside, and enjoys fast connections to London from nearby railway stations at Rochester and Strood. Two-bedroom coach houses are currently being offered at £118,000 up-front, representing 80% of their full market value.

Ashford, just 38 minutes by High Speed train from central London, continues to expand, offering a high-quality standard of living. The area offers plenty of shopping and leisure activities, including the renowned Ashford Designer Outlet shopping centre, multiplex cinema and bowling. Moat is offering a range of new homes at Repton Park, a Persimmon Homes development, again with FirstBuy, with an up-front price of under £80,000 for an apartment that comprises a spacious, open-plan kitchen and lounge/dining area, with one airy bedroom and fitted bathroom.

Also through Moat is the opportunity to buy with shared equity at the ever-popular Eden Village, the Ward Homes development in Sittingbourne. These three-bedroom family homes are available with FirstBuy from £151,996. The area boasts a number of high quality schools, and easy access to London via the M2 or high speed rail links from nearby Sittingbourne mainline station.

With FirstBuy funding available via housing association Moat, a three-bedroom home at Ward Homes' Eden Village development in Sittingbourne becomes available for an up-front price of £151,996