Eligibility Criteria

· Household income must not exceed £80,000 (outside of London) or £90,000 (in London)

· Must pass the One Housing financial assessment (done after receiving the application, which can only be submitted after viewing the property)

· No cash buyers

· No pets

· Applicants must be able to afford their purchase, and sustain their housing costs

· Applicants are primarily expected to be first time buyers, though some applicants who own or have previously owned a home may be eligible, including existing shared owners

· Applicants must be unable to purchase a property suitable to meet their needs on the open market

· Priority will be given to Armed Forces personnel (serving military personnel and former members of the British Armed Forces discharged in the last 2 years) and then on a first come first serve basis

Please be advised that if all applicants meet the criteria above the property will be offered on a first come first serve basis, this means that the first eligible applicant who submits an application will be nominated as the buyer.

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.

ELIGIBILITY:
To be eligible for this property you must be earning a household income of at least £35,125 with a deposit of £4,875 and live or work in theReading authority area.

LOCATION:
The property is located in Park View in the Borough of Reading. Quiet location off the main road. It is in walking distance to the Oracle Shopping Centre. Adjacent to the River Kennett and Waterloo Meadows. Access to walking and cycle routes. Easy access to M4, nearby shops, local amenities and one mile fromHook train station. The local buses are: 5, 6 and 11.

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.

Sale Price and Equity
Full market value:£230,000 Monthly net rent:£610.64
Share available:25%Monthly service charge:£131.31
Share price:£57,500
The rent review is every April. Quoted rental figures are based on the 2019/20 financial year

ELIGIBILITY:
To be eligible for this property you must be earning a household income of at least £37,815 with a deposit of £6,000 and live or work in the Reading authority area.

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.

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.

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.

Applicants are able to buy the share outright and will need available funds of £157,500 to do so.

If a mortgage is required you will need to be earning a guidance income of £35,000. You will need access to savings of at least £4,000 to cover the cost of buying the home plus £7,500 to cover the cost of improvements. A minimum 10% deposit approx. 15,750. Total approximate savings required £27,250.

Important specific eligibility criteria
Priority will go to applicants with a connection to Ealing but all applicants can apply.
This property is restricted to persons aged 60 years and over.

Ealing will prioritise applicants based on the following:
1. Social Tenants (Council & Housing Association tenants)
2. Serving MOD personnel
3. Applicants who live and work in Ealing 
4. Applicants who live or Work in Ealing 
5. All other Applicants

Applicants must be earning under £90,000 to be eligible for one, two and three bedroom apartments.

Must be earning a household income of at least £36,486 with a deposit of £12,000
Applicants from all boroughs may apply, howeverpriority will go to thosewho live or work in the Reading authority area.

Open to applicants from all London Boroughs. However, priority is given to those who live or work in the Borough of Harrow, together with applicants who have a higher housing need.

You will need to be earning a guidance income of £35,000. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £11,200. Total approximate savings required £15,200.

Important borough specific eligibility criteria

Hounslow
All London applicants will be considered with priority given to people who live/work in the borough.

Applicants must be earning under £90,000 to be eligible for one, two and three bedroom apartments.

If you are an existing homeowner we will not be able to allocate you a home unless you have found a buyer for your existing home and are deemed to be in need of housing by your local council.

Applicants must be aged 60 or over.

Applicant must be able to live independently without any care or support.

Applicants must have sufficient funds to purchase the 70% outright.

Applicants must also have access to sufficient funds to cover the cost of buying.

All prospective buyers must attend an interview with a Home Group representative and complete an application form to confirm their eligibility to purchase their chosen property.

Buyers' ability to meet the independent living criteria is determined via a medical status report from their GP, any costs borne from this are payable by the purchaser. (Further information is available on request)

Once your application and medical status has been confirmed, we will contact you to let you know that you have/have not been approved ahead of instructing all legal representatives.

Applicants must be aged 60 or over.

Applicant must be able to live independently without any care or support.

Applicants must have sufficient funds to purchase the 70% outright.

Applicants must also have access to sufficient funds to cover the cost of buying.

All prospective buyers must attend an interview with a Home Group representative and complete an application form to confirm their eligibility to purchase their chosen property.

Buyers' ability to meet the independent living criteria is determined via a medical status report from their GP, any costs borne from this are payable by the purchaser. (Further information is available on request)

Once your application and medical status has been confirmed, we will contact you to let you know that you have/have not been approved ahead of instructing all legal representatives.

Please note that in order to be eligible, you’ll need to meet the following criteria:

1) Must be earning at least£48,500 and have savings of about £17,500

2) Your house household income must not be above £71,000.

3)You also must not own or have name on title deeds of another property

4)Must not be able to afford to buy on open market9

You should generally be a first time buyer, i.e. you don’t already own a home.
You should not be able to afford to buy a home suitable for your housing needs on the open market
Must be able to obtain and afford a mortgage
Must have a household income of roughly £48,500 to meet affordability this is just a guideline and may differ on individual circumstances
Must have at least £4000 to cover the costs of buying a home
Should have around  £17,500 in savings to act as a deposit 

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.