Although April 2006 saw Shared Ownerships title change to New Build HomeBuy for new purchasers, the basic concept remains the same and its popularity will no doubt continue.

This programme offers eligible applicants the opportunity to “Part Buy Part Rent” a newly built property from a Housing Association. You can buy initially between a 25% and 75% share of the property, with a below market rent being paid to the Housing Association on their remaining share.

You are able to buy more shares in the property if your financial circumstances improve, this is known as Staircasing. In the vast majority of cases you can staircase to full property ownership.

You are also able to buy shares in previously owned Shared Ownership properties which the Housing Association will recycle when an existing home owner wants to move on. These properties are known as Resales.

In any event affordability guidelines have to be followed and you will need to obtain competitive mortgage finance from a programme supportive lender. Our experience is invaluable in this area as the difference between those mortgage lenders offering market leading rates and those mortgage lenders who don’t could well be up to 2.5%.

Concerned that you don’t have a deposit?

Don’t worry, we know the Shared Ownership mortgage lenders who’ll let you borrow 100% of your share with market leading rates!

 

Shared Ownership Guide

 



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Your home may be repossessed if you do not keep up repayments on your mortgage
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