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 Oaklands Park you can buy a minimum 30% 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 this shared ownership development you would need to meet the following criteria:

• There is a local area connection requirement at this development. Purchasers MUST live and/or work within the local borough of Elmbridge and all applications will need to be approved by the council who will need to confirm your local area connection.
• 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.

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 Oaklands Park you can buy a minimum 30% 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 this shared ownership development you would need to meet the following criteria:

• There is a local area connection requirement at this development. Purchasers MUST live and/or work within the local borough of Elmbridge and all applications will need to be approved by the council who will need to confirm your local area connection.
• 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.

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.
• Priority will be given to applicants living and/or working in the borough of Wandsworth however applications from outside the borough will be accepted.

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 must have a local connection to Wandsworth Council via working or living in the borough.

You may be eligible for this property if:

• You have an income less than £ 80000
• You must be at least 18 years old

As a guide you will need to have a household income of at least £62,242. You will need access to savings of at least £4,000 to cover the cost of buying the home. A minimum 10% deposit approx. £14,875. Total approximate savings required £18,875.

Important borough specific eligibility criteria

Wandsworth
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.

Eligibility

You may be eligible for this property if:

· Register your interest (pink button on the right)

· Have a passed initial financial assessment with one of the below companies:

SRC Mortgage Solutions (https://www.srcmortgagesolutions.com/)

TMP The Mortgage People (tmpmortgages.co.uk)

Mortgage Advice Bureau | UK’s leading mortgage intermediary (https://www.mortgageadvicebureau.com)

· You have a gross household income of no more than £90000 per annum when eligible to purchase.

· Live or work in the borough

· You are unable to purchase a suitable home to meet your housing needs on the open market. (Shares cannot be purchased in cash unless you are unable to obtain a mortgage due to age or religious grounds)

· You do not already own a home, or you will have sold your current home before you purchase or rent.

· To purchase this 25% minimum share you will need a minimum joint household income of £29,427 and available savings of £5,500for a 5% mortgage deposit.