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]

Applicants must live or work in the East Cambridgeshire area.

• You must be at least 18 years old.
• You cannot afford to buy a home suitable for your needs on the open market. You will need sufficient savings for a mortgage deposit and a clean credit history to qualify for a mortgage.
• Your annual household income must be less than £80,000.
• You must be a first time buyer or existing shared owner*. If you already own a home, you need to move but you cannot afford to, then please discuss your situation with us. There are some circumstances under which you could be eligible.

Applicants must live or work in the East Cambridgeshire area.

• You must be at least 18 years old.
• You cannot afford to buy a home suitable for your needs on the open market. You will need sufficient savings for a mortgage deposit and a clean credit history to qualify for a mortgage.
• Your annual household income must be less than £80,000.
• You must be a first time buyer or existing shared owner*. If you already own a home, you need to move but you cannot afford to, then please discuss your situation with us. There are some circumstances under which you could be eligible.

Applicants must live or work in the East Cambridgeshire area.

• You must be at least 18 years old.
• You cannot afford to buy a home suitable for your needs on the open market. You will need sufficient savings for a mortgage deposit and a clean credit history to qualify for a mortgage.
• Your annual household income must be less than £80,000.
• You must be a first time buyer or existing shared owner*. If you already own a home, you need to move but you cannot afford to, then please discuss your situation with us. There are some circumstances under which you could be eligible.

This property is covered by a Section 106 Planning Agreement Restriction.

This agreement puts in place a local connection restriction that the applicant lives in Sutton area.

Priority will be given to applicants that can demonstrate a local connection to Sutton (see below for details of ‘local connection’). Qualifying Persons from Sutton shall have priority of allocations over those from neighbouring villages, with both being in priority over those from the wider District of Cambridgeshire.

If an applicant can not be identified with a local connection consideration will then be given to those without a local connection.

Local Connection

An applicant will be considered to have a strong local connection to the village if they meet one of the following criteria:

a) The applicant has worked (paid employment) in the village for the last 12 months for sixteen hours or more per week; or

b) The applicant has lived in the village for at least 5 years out of the last 8 years; or

c) The applicant has family members who are resident in the village. Family members are defined as parents, children or brothers or sisters who have been resident in the village for a period of 5 years or longer. or

d) There are special circumstances that are considered to give rise to a local connection to the village, for example where the applicant’s substantive role is as a carer to a person resident in the village.

You are eligible to purchase a Home Reach property in England or Wales if:
Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)
You have a deposit (at least 5% of the share value)
You are a first-time buyer or used to own a home, but cannot afford to buy outright now
The shared ownership property will be your principle and only home
You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.

You are eligible to purchase a Home Reach property in England or Wales if:
Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)
You have a deposit (at least 5% of the share value)
You are a first-time buyer or used to own a home, but cannot afford to buy outright now
The shared ownership property will be your principle and only home
You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.

You are eligible to purchase a Home Reach property in England or Wales if:
Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)
You have a deposit (at least 5% of the share value)
You are a first-time buyer or used to own a home, but cannot afford to buy outright now
The shared ownership property will be your principle and only home
You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs.

You may be eligible for this property if:

• You have a gross household income of no more than £80,000 per annum.
• You are unable to purchase a suitable home to meet your housing needs on the open market.
• You do not already own a home or you will have sold your current home before you purchase or rent.

Priority will be given to buyers with a local connection to Waterbeach, Landbeach, Horningsea and Milton, South Cambridgeshire District.

You may be eligible for this property if:

• You have a gross household income of no more than £80,000 per annum.
• You are unable to purchase a suitable home to meet your housing needs on the open market.
• You do not already own a home or you will have sold your current home before you purchase or rent.

Priority will be given to buyers with a local connection to Waterbeach, Landbeach, Horningsea and Milton, South Cambridgeshire District.

You are eligible to purchase a Home Reach property in England or Wales if:

• Your household income does not exceed £80,000 per annum for homes outside of London (£90,000 in London)
• You have a deposit (at least 5% of the share value)
• You are a first-time buyer or used to own a home, but cannot afford to buy outright now
• The shared ownership property will be your principle and only home

You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs

To be eligible to purchase a Shared Ownership home

• Your annual household income can be no more than £90,000
• 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.