Who is it for?

As long as you are over 18
Your household income is less than £80,000
And you don’t already own a home at the time of buying your shared ownership property

… then shared ownership could be right for you.

Who is it for?

As long as you are over 18
Your household income is less than £80,000
And you don’t already own a home at the time of buying your shared ownership property

… then shared ownership could be right for you.

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.

Terms, conditions and requirements -

Minimum household income requirement: £19,340.18^

Application process: A financial assessment must be completed before any physical viewing can take place. This forms part of Home Group’s buyer approval process. These assessments are carried out remotely by The Mortgage People. Once you have confirmed an interest in purchasing a property, the contact details will be made available.

We will not carry out any credit checks or contact any reference agencies without your written consent.

Help to Buy Agent: In order to apply you must be registered with Help to Buy South https://www.helptobuyagent3.org.uk/. You will need to provide your HTB reference when completing the application process.

Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.

Pets: Pets are not permitted in buildings with communal areas.

- Terms, conditions and requirements -

Minimum household income requirement: £19,934^

Application process: A financial assessment must be completed before any physical viewing can take place. This forms part of Home Group’s buyer approval process. These assessments are carried out remotely by The Mortgage People. Once you have confirmed an interest in purchasing a property, the contact details will be made available.

We will not carry out any credit checks or contact any reference agencies without your written consent.

Help to Buy Agent: In order to apply you must be registered with Help to Buy South https://helptobuyagent3.org.uk/user/. You will need to provide your HTB reference when completing the application process.

Current homeowners: Anyone who currently owns a home must have a sale agreed to apply.

You may be eligible for this property if:

• You have a gross household income of no more than £90,000 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.

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.

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.