• Minimum Joint Household Income from£32,500
• Deposit from£8,700
  
  
  
  

WHAT IS SHARED OWNERSHIP ?
Shared Ownership is a housing scheme designed to help homebuyers who are unable to afford the cost of buying a property outright on the open market. Properties may be sold off-plan or new build direct from housing associations, or pre-owned from existing shared owners. The rules and terms of the scheme are set by the Greater London Authority (GLA) in London and Homes England outside of London.

IS SHARED OWNERSHIP FOR YOU ?
The GLA and Homes England set the eligibility criteria for Shared Ownership, but broadly speaking you must:
 Not own another property in the UK or any other country.
 Have a household income that falls below £90,000 (£80,000 threshold outside the M25). Every property will have a minimum income level too, determined by its’ value, rent and service charge costs. In most cases you will need to meet or exceed the given minimum income.
 Have access to a minimum deposit of 10% of the share being purchased (a minimum deposit of 5% of the share being purchased may be acceptable depending on individual financial status).
 Be in full time permanent employment.
 Be a British, EU or EEA Citizen or have indefinite leave to remain in the UK.
 Have a good credit history.
If you are still unsure about Shared Ownership or would like more information view[ Facts and Frequently Asked Questions]

ELIGIBILITY:
To be eligible for this property you must have a minimum deposit of £9,875. Priority will be given to those who live or work in the Hillingdon local authority area.

CASH FOR IMPROVEMENTS

SHARED OWNERSHIP

The scheme allows you to purchase the specified share of the property price, and pay a reduced rent on the share you do not own. You will have the opportunity to buy further shares (subject to affordability) at a later date

As a shared owner you will be an assured tenant until you own 100% of the shares for the property after which you will own the leasehold interest.

To be eligible for this property you must be earning a household income of at least £42,404 with a minimum deposit of £10,200. Priority will be given to those who live or work in the Ealing local authority area.

To be eligible for this property you must be earning a household income of at least £28,987.50 with a minimum deposit of £10,500. Priority will be given to those who live or work in the Hillingdon local authority area.

2 Bed 2 Bath Criteria:

• Minimum Joint Household Income from£45,500
• Deposit from£11,550
• Must be eligible for Shared Ownership
• Must be able to obtain a mortgage

2 beds starting from £111,000 for a 30% share of £370,000

• Minimum Joint Household Income from£45,500
• Deposit from£11,550
• Must be eligible for Shared Ownership
• Must be able to obtain a mortgage

There are some general eligibility requirements that anyone wishing to buy a Shared Ownership home must meet:

-You must be at least 18 years old.
-Your annual household income must be less than £90,000.
-You cannot own another home, or you must be in the process of selling it.
-You should not be able to afford to buy a home suitable for your housing needs on the open market.
-Other lenders restrictions will apply.
-You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home.
-You should have appropriate savings relating to the property you're interested in.
-In most cases you will also need to have enough savings or be able to easily access a minimum 5-10% of the equity share you are buying, as a deposit.
-Finally: You should always check the eligibility required with the Sales Agent.

There are some general eligibility requirements that anyone wishing to buy a Shared Ownership home must meet:

-You must be at least 18 years old.
-Your annual household income must be less than £90,000.
-You cannot own another home, or you must be in the process of selling it.
-You should not be able to afford to buy a home suitable for your housing needs on the open market.
-Other lenders restrictions will apply.
-You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home.
-You should have appropriate savings relating to the property you're interested in.
-In most cases you will also need to have enough savings or be able to easily access a minimum 5-10% of the equity share you are buying, as a deposit.
-Finally: You should always check the eligibility required with the Sales Agent.

There are some general eligibility requirements that anyone wishing to buy a Shared Ownership home must meet:

-You must be at least 18 years old.
-Your annual household income must be less than £90,000.
-You cannot own another home, or you must be in the process of selling it.
-You should not be able to afford to buy a home suitable for your housing needs on the open market.
-Other lenders restrictions will apply.
-You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home.
-You should have appropriate savings relating to the property you're interested in.
-In most cases you will also need to have enough savings or be able to easily access a minimum 5-10% of the equity share you are buying, as a deposit.
-Finally: You should always check the eligibility required with the Sales Agent.

To be eligible to purchase a Shared Ownership home

• Your annual household income can be no more than £90,000 if the property is in London, no more than £80,000 if the property in not in London
• You should be unable to purchase a home suitable for your needs without assistance.
• You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgments).
• You must be a first time buyer. If you already own a home and need to move but cannot afford to, please contact us. There may be some circumstances under which you could be eligible.

The ‘Estimated total monthly cost’ for a Shared Ownership property consists of three separate elements added together:

• Rent: this is charged on the share you do not own and is usually payable to a housing association (rent is not generally payable on shared equity schemes)
• Service Charge: covers maintenance costs for the property as a whole and communal areas
• Mortgage: Share to Buy ltd are specialist Shared Ownership mortgage brokers and we use a database of daily updated mortgage rates to work out the lowest rate available for the deposit amount shown, and then generate an estimated monthly payment on a 25 year capital repayment basis.

NB: this mortgage estimate is not confirmation that you can obtain a mortgage and you will also need to satisfy the requirements of the relevant mortgage lender. Nor is this a guarantee that in practice you would be able to apply for such a rate, and nor is this a recommendation that the rate used would be the best product for you.

Shared Ownership Resales: Also known as part buy part rent on second hand homes, with this affordable home ownership scheme you purchase a share of the property and rent the remainder from the housing provider.

Shared Ownership New Build: 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. The price shows the minimum share available, and the size of the share you purchase will depend on what you can afford.

Affordable housing scheme: Intermediate Rent (pay a discounted rent)

Affordable housing scheme: Rent to Save (pay a discounted rent).

Rent to save is designed to enable aspiring home-owners to move into the home they have chosen, even if they have not yet been able to save a sufficient mortgage deposit. As the rent will be at a lower than market rate, you will be able to save throughout the period of your tenancy.

Affordable housing scheme: Over-55s Shared Ownership

For people aged 55 or over who are otherwise unable to afford to buy a home suitable to their needs. The scheme is similar to Shared Ownership and enables you to buy a 75% share of the home or apartment.

Affordable housing scheme: Your Home

Turn any freehold property into part-buy-part-rent with Your Home. You simply need 10% cash deposit on the full purchase price, there’s no need for a mortgage and you can buy more or move at any time plus added benefits. To find out more contact Heylo via the property page

Affordable housing scheme: Discount Market Sale

Discount Market Sale (DMS) is a low cost home ownership product where a new build property is purchased at a discounted price. This discount is usually around 20% and the scheme is to help low and middle earners get onto the property ladder.

Affordable housing scheme: Help to Buy equity loans (100% ownership but with a 20% equity loan)

Buy a new home on an approved new build development with assistance from the Government in the form of an equity loan. The equity loan is interest free for the first five years.

Affordable housing scheme: Help to Buy equity loans (100% ownership with a 40% equity loan)

Buy a new home on an approved new build development with assistance from the Government in the form of an equity loan. The equity loan is interest free for the first five years.

Affordable housing scheme: Discount Full Ownership (100% ownership at a discount)

Affordable Housing Scheme: London Help to Buy equity loan (100% ownership with up to 40% loan)

Borrow up to 40% of the purchase price from the Government with the London Help to Buy scheme. You would only need a 5% deposit and your mortgage would make up the rest.

London Living Rent is a type of affordable housing for middle-income Londoners. These homes offer lower rents, with the saving on the rent aimed to help you ave towards a deposit for your own home.