Shared Ownership

Shared Ownership

Why buy using Shared Ownership?

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The same quality, just a different way to own a new home. Shared Ownership is a Government-backed scheme open to both first and second-time buyers. You start by buying between 25% and 75% of the home and pay monthly rent on the rest. All Shared Ownership homes are sold as leasehold, and in most cases, you can buy more shares and eventually own 100% of your home outright, also known as staircasing.

Why Shared Ownership?

  

Whether you’re a first-time buyer or an existing shared homeowner, the Shared Ownership scheme is a great way to get your foot onto the property ladder and purchase a high-quality new build home. Your individual circumstances determine the share that you can buy so you can be certain that what you are buying is affordable for you.

  1. Lower deposits required
  2. Benefit from any increase in property prices
  3. Flexibility to sell and move at any time
  4. Ability to increase the level of ownership at any time also known as Staircasing.

Why Shared Ownership?

  

Whether you’re a first-time buyer or an existing shared homeowner, the Shared Ownership scheme is a great way to get your foot onto the property ladder and purchase a high-quality new build home. Your individual circumstances determine the share that you can buy so you can be certain that what you are buying is affordable for you.

  1. Lower deposits required
  2. Benefit from any increase in property prices
  3. Flexibility to sell and move at any time
  4. Ability to increase the level of ownership at any time also known as Staircasing.

How it works

  

So you’re wondering how does Shared Ownership works. Well, it's pretty simple, to be honest. If there’s a home your interested in buying available through Shared Ownership we will guide you along the whole way, from your initial enquiry through to handing over the keys to your new home.

You’ll work with your Sales Advisor and an Independent Financial Advisor to determine the level of share you can purchase, between a range of 25% to 75%, and you’ll pay a subsidised rent on the remaining share.

Our Sales Advisors can arrange a telephone call with an Independent Financial Advisor, Metro Finance, who specialise in Shared Ownership to help you determine the share you can buy, or you can check online with Metro Finance.

You become a leaseholder when you buy through Shared Ownership as you pay rent on the share you didn’t buy, but as time goes by, you can buy more of your property and increase your ownership to 100% and then become the freeholder (in most cases).

The illustrated example is based on you owning a 50% share.

How it works

  

So you’re wondering how does Shared Ownership works. Well, it's pretty simple, to be honest. If there’s a home your interested in buying available through Shared Ownership we will guide you along the whole way, from your initial enquiry through to handing over the keys to your new home.

You’ll work with your Sales Advisor and an Independent Financial Advisor to determine the level of share you can purchase, between a range of 25% to 75%, and you’ll pay a subsidised rent on the remaining share.

Our Sales Advisors can arrange a telephone call with an Independent Financial Advisor, Metro Finance, who specialise in Shared Ownership to help you determine the share you can buy, or you can check online with Metro Finance.

You become a leaseholder when you buy through Shared Ownership as you pay rent on the share you didn’t buy, but as time goes by, you can buy more of your property and increase your ownership to 100% and then become the freeholder (in most cases).

The illustrated example is based on you owning a 50% share.

Who can use Shared Ownership?

  

The good news is that Shared Ownership is not only for first-time buyers! Existing Shared Ownership homeowners who are looking to move, or who might have owned previously and looking to get back on the property ladder or could be a first-time buyer.

  • Your household income does not exceed £80,000 per annum
  • You have a deposit (at least 5% of the share you’re buying)
  • You are a first-time buyer or if you used to own a home, but cannot afford to buy outright now
  • You currently occupy a shared ownership property and are looking to move
  • The shared ownership property will be your only home
  • You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs
  • You meet any Local Authority requirements (not always applicable)

Who can use Shared Ownership?

  

The good news is that Shared Ownership is not only for first-time buyers! Existing Shared Ownership homeowners who are looking to move, or who might have owned previously and looking to get back on the property ladder or could be a first-time buyer.

  • Your household income does not exceed £80,000 per annum
  • You have a deposit (at least 5% of the share you’re buying)
  • You are a first-time buyer or if you used to own a home, but cannot afford to buy outright now
  • You currently occupy a shared ownership property and are looking to move
  • The shared ownership property will be your only home
  • You have passed a financial assessment, demonstrating you are financially able to purchase the minimum share value and support the monthly costs
  • You meet any Local Authority requirements (not always applicable)

Customer stories

  

"Branching out to Shared Ownership has helped a lot, and we've managed to be in the house within six months, it's been a really fast turnaround. Without Shared Ownership, it would have definitely taken us a lot longer, and it would have taken us a lot longer to find somewhere like this."

Riley & Carlene,
Egerton Rise.


Customer stories

  

"Branching out to Shared Ownership has helped a lot, and we've managed to be in the house within six months, it's been a really fast turnaround. Without Shared Ownership, it would have definitely taken us a lot longer, and it would have taken us a lot longer to find somewhere like this."

Riley & Carlene,
Egerton Rise.


Find a home

  

Search our latest Shared Ownership homes

Hatters Park
Earlsbrook
Hazelmere
Weaver Meadows
Hatters Park
Earlsbrook
Hazelmere
Weaver Meadows

Copyright © 2019 Laurus Homes THT Developments Ltd.  Registered in England and Wales: no. 9201999

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Copyright © 2019 Laurus Homes THT Developments Ltd.  Registered in England and Wales: no. 9201999