You need to know the mortgage amount you can access. Independent financial advisers/mortgage brokers on our panel are all specialists approved by housing associations to carry out ‘affordability assessments’ to give you the green light to proceed.
Arrange affordability assessment/financial check
Now the fun part! Search and when you find a home you like, make an enquiry to a housing association. For new homes a deposit up to £500 can be required to reserve your home (refunded on completion). If successful you will be offered the property.
When you have found a home you will need a solicitor. Homefocus has a panel of specialist Shared Ownership 'housing association approved' solicitors that can provide you with a breakdown of the legal costs so it doesn't hold up the process.
Find a Shared Ownership solicitor
Now the exciting part! Once you’ve bought your new home you can move in, safe in the knowledge that it won’t cost you every penny you earn to live there! Good Luck!
Scheme: Shared Ownership Price: ₤123,750 for 25% share
Scheme: Shared Ownership Price: ₤95,550 for 25% share
Scheme: Shared Ownership Price: ₤105,000 for 25% share
Could you buy 25-75% of the home with your deposit and mortgage? Then Shared Ownership could be the way to go.
Can you afford repayments on a home up to £600,000 but don't have the whole deposit? Help To Buy could be for you.
You can only buy a home for you to live in (not to let out or use as a second home).
You only need to find a 5% deposit and cover the costs of moving (that's 5% of the share or equity you buy, not 5% of the total price of the property).
Read more to see which option is for you.
“the only way we could possibly get a mortgage” and we're saving £92 each month.
Wieslaw and Marta Grygny had been renting with friends and paying over £400 each month. They purchased a one-bedroom apartment in Borehamwood through shared ownership with Affinity Sutton.
‘Without shared ownership, we would have had nothing’
Pearl Stonelake had lived in Torbay all her life, always in rented accommodation, but when she found out about Beechfield View in Torbay, she saw the chance to change her situation.
‘value for money ...in comparison to where we previously rented’
Gabriella and James had been previously living in a rented studio apartment in Maidstone and paying £550 per month.