Help to Buy Shared Ownership

What is Help to Buy Shared Ownership?
Shared Ownership is a fantastic opportunity for those who want to get a foot on the property ladder but can’t afford to buy a home on the open market. It allows you to buy a share in a brand new leasehold property on a part buy/part rent basis and pay a subsidised rent on the part that you do not own.

We will offer shares for sale normally between 40-75% of the property depending on how much you can afford to purchase and charge rent on the remaining share. The bigger the share you buy, the less rent you have to pay. You will need to be able to raise a mortgage for the share you want to purchase unless you have sufficient money to enable you to do so. We can look to offer shares between 25-40% if you are unable to meet the 40% share, however, this is considered after we have carried out a financial assessment.

Watch the video below to find out more about Help to Buy Shared Ownership

Eligibility – Am I eligible?
Shared Ownership uses the following criteria to help people to get a foot on the housing ladder:

  • Maximum annual household income of £80,000.
  • Unable to purchase a home on the open market

Priority is given to the following:

  • First Time Buyers
  • An Existing Shared Owner looking to move
  • Previous homeowners that cannot afford to buy now
  • Military Personnel

All applicants are required to register with Home Choice Plus and Orbit Help to Buy Midlands or Orbit Help to Buy South.

To find out more, you can view our handy guide here Shared Ownership Guide.pdf [pdf] 2MB

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