16 September 2016
Did you know that 15-21 Sep is Shared Ownership Week? This week-long national campaign is returning for its fourth year!
So what is Shared Ownership? Watch this short video
for a quick summary on the part buy/part rent affordable way to buy a home. Shared Ownership Week
aims to help prospective homebuyers understand how they could be eligible to secure a property with Shared Ownership while also providing them with a wealth of information on this pioneering scheme.
A dedicated week to this affordable home ownership solution, to help combat myths surrounding shared ownership, and to help buyers fully understand exactly who the scheme is for. Many people are under the impression that Shared Ownership is for key workers only when in fact it’s available for a wide range of buyers; city workers, families, couples, and single people!
Confused by Shared Ownership? Myth Busting Facts.
There have also been some important changes to the scheme for example; this year income caps have been raised, meaning families earning up to £90,000 in London and £80,000 elsewhere could be eligible. Second steppers can also now benefit from shared ownership when trying to climb the property ladder, with equal priority as first-time buyers, and the cap on a number of bedrooms has been lifted.
Throughout the week this website
will contain a wealth of information for those thinking about buying property, including videos and real life first-time buyer case studies.
Shared ownership enables buyers to purchase a share in a brand new – usually at a minimum of 25% of its market value – with as little as a 5% deposit. The buyers pay a subsidised rent on the remaining share of the property, usually resulting in lower monthly costs than renting on the open market.
How much Deposit do I need?
There are a range of Government Home Ownership Schemes, for further information please see our Matrix.