We’ve put together answers to some of our most frequently asked questions, handled by our sales team.
You can buy your home with Shared Ownership if you meet the following:
If you're already a homeowner and want to buy with Shared Ownership, you'll need to have a buyer for your current property before applying.
Shared Ownership allows you to buy a share in a long lease on a property. You will need to take out a mortgage for the share you are buying, which needs to come from a recognised high street lender who offers shared ownership mortgages.
Shared Ownership, also known as 'part rent, part buy', is a scheme funded by the government, housing associations and local authorities, which provides a stepping stone to complete homeownership.
When you buy a Shared Ownership property, you make a monthly mortgage payment for the share you own, and a subsidised rent payment on the share which is owned by the housing provider.
The scheme has been designed to enable you to buy a property that you can afford. The combined monthly mortgage and rent payments are often less than if you were to buy a home outright, or not much more than if you were renting.
Over time, you can buy a larger share in the property until you own it outright - this process is known as 'staircasing.'
First we build your dream home, then we help you buy it