Shared ownership schemes allow you to purchase a share in the property, typically 25% - 50% of the market value in the property, whilst paying rent to the housing association on the remaining share.
There are a several mortgage lenders who specialise in shared ownership mortgages.
In time you may wish to purchase further shares in the property, or you can sell your existing share at open market value to a buyer approved by the housing association.
We have experience of newbuilt properties with "Signpost Housing Association" and "Sovereign Housing Association" and the general sale and purchase of shared ownership properties and we would be happy to discuss this with you.
Key workers mortgages are available to people who work in certain public sector jobs, which are eligible for help to buy a home.
Police officers, fire officers, prison officers, nurses, midwifes, occupational therapists or social workers, or members of the armed forces are all eligible for help buying a home through one of the HomeBuy schemes. As well as being a key worker, you must also:
Do you rent a council house?
Do you want to buy your home?
Secure tenants will acquire the right to buy their property after five years but the right to buy with a discount is not without limitations. There are a variety of other measures which aim to prevent other abuses of the right to buy legislation and therefore it is important that you seek the right advice and help on right to buy.
If you would like to discuss the options available to you, call us on 01392 278381 for a FREE consultation.