Shared Ownership Homes

You buy a share of your home between 25 and 75 and pay rent on the rest.

Shared ownership homes. You have the option to buy a bigger share in the property at a later date. Shared ownership is a great way for first time buyers to get on the property ladder as it can dramatically reduce the amount required for a. Home ownership for people with long term disabilities hold can help you buy any home that s for sale on a shared ownership basis if you have a long term disability. Shared ownership offers a way onto the property ladder that is more affordable than buying a home outright.

With shared ownership you buy between a quarter and three quarters of a property. These schemes are aimed at people who don t earn enough to buy a home outright. Most of the homes available are newly built but some are. If you have staircased and now own 100 of your home you will be able to sell it yourself.

Buyers purchase a share of property and pay rent on the remaining share. You can buy a home through shared ownership if your. You purchase an initial share between 25 and 75 of the property s value we own the remainder and you pay a reduced rent on that share. To bring this shared ownership guide to a close we wanted to highlight the benefits of shared ownership to you.

Shared ownership is a great way for first time buyers to get on the property ladder as it can dramatically reduce the amount required for a. The property will be known as a shared ownership resale property. Shared ownership is an affordable home ownership scheme which makes it easier for first time buyers to get on the property ladder. There are a range of new properties available which usually means fewer future repairs and the chance to move in straight away without having to replace any ancient boilers.

You can only apply for hold if the properties available through the other home ownership schemes don t meet your needs eg you need a ground floor property. You can get a shared ownership home through a housing association. Shared ownership is a great way of buying a new home based on what you can afford. A key benefit of shared ownership properties is the freedom that you get with it when it comes to decorating.

However for 21 years from the date the home became 100 yours the housing association may have the right to buy it back first known as first refusal. Also known as part buy part rent with this affordable home ownership scheme you purchase a share of a brand new property and rent the remainder from the housing provider. Buyers purchase a share of property and pay rent on the remaining share. Shared ownership properties tend to be either new builds offered by housing associations or resales of existing shared ownership properties.