Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

At Sterling Gardens you can buy a minimum 40% share of your home (the maximum you can buy initially is 75%). When you’re ready, you can buy more shares until you staircase to owning 100% of your home.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000.
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

Please note the minimum share you can purchase can vary depending on your financial situation and you may be asked to purchase a larger share, should your personal circumstances permit.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

**These photos are for information purposes only and may not represent a true likeness for the units being sold. They may have been taken from earlier phases or similar developments/house types and digitally furnished to represent how the home could be laid out; the final colours/appearance/specification may differ from the images and are not plot specific. We advise applicants to make their own investigations on future development in the area. We would suggest contacting the local authority for more information.

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.
• As this is an Extra Care property, any eligible buyer will have an identified care need and you will be 55 years or over. Alternatively you are also eligible if you are 50 years or older and have a learning disability, any mental health issues or a physical/sensory disability.
• The resale of this property will involve a nomination priority process which will see successful buyers 1)People that live and work in the London Borough of Hounslow 2) People that live in the London Borough of Hounslow 3)People that work in the London Borough of Hounslow.

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.

Please note that only applicants with a connection can be considered for a home on this development. The connection criteria is as follows:

- Currently living in Arun and has done for at least 3 continuous years
- Currently living in Arun and has done for at least 5 non-consecutive years in the last 10-year period
- Currently works in Arun with at least 16 hours a week for at least 2 continuous years and remains working in the Arun District
- Needs to be in the Arun District to give or receive regular daily support from or to a close relative (parents, adult children, siblings). The support must be such that it is required on an ongoing and long-term basis and is not capable of being provided by other family members or available support agencies. The close relative must be permanently resident in the Arun District and have lived in the district continuously for at least 10 years immediately prior to the application date

Please contact us for further information.