Shared Ownership

Shared

Ownership

Essential Information

If purchasing your own home seems merely a dream, Shared Ownership could be the perfect scheme for you. Call us to discuss your options, we’d love to help you.

Eligibility

Shared Ownership detail

England

  • New build property and resales (previously owned)
  • Household income of £80,000 or less or £90,000 or less if in London
  • Property needs to be registered as Shared Ownership
  • Available to first-time buyers and home-movers (not second property)
  • You will need a minimum 5% deposit of the share you are purchasing
  • An affordability calculator will need to be completed – we can do this

 

Check on the up to date eligibility information below for England..

England

  • The property will be leasehold
  • Property can be a house or a flat
  • You can purchase between 25% and 75% of the property value
  • Rent will be payable to the Housing Association on the remaining share
  • Service charges could be payable in addition to the rent
  • You will need to apply to your local Help to Buy agent for acceptance
  • You will also need to apply to the Housing Association
  • ‘Staircasing’ is the ability to increase your share in the property

Check on the up to date eligibility information below for Wales.

Eligibility

England

  • New build property and resales (previously owned)
  • Household income of £80,000 or less or £90,000 or less if in London
  • Property needs to be registered as Shared Ownership
  • Available to first-time buyers and home-movers (not second property)
  • You will need a minimum 5% deposit of the share you are purchasing
  • An affordability calculator will need to be completed – we can do this

 

Shared Ownership detail

England

  • The property will be leasehold
  • Property can be a house or a flat
  • You can purchase between 25% and 75% of the property value
  • Rent will be payable to the Housing Association on the remaining share
  • Service charges could be payable in addition to the rent
  • You will need to apply to your local Help to Buy agent for acceptance
  • You will also need to apply to the Housing Association
  • ‘Staircasing’ is the ability to increase your share in the property

Check on the up to date information below.

Stamp Duty

Stamp duty is paid on your share of the property.

The amount you pay could be zero!

Call us to discuss the amount as it will vary depending on a number of factors including whether you are a first-time buyer and what your future plans are.

Click below to see the Stamp Duty Land Tax (SDLT) amount.

Conveyancing

You will need to instruct a conveyancer for your purchase.

The Housing Association may suggest that you use their own.

You are free to choose your own conveyancer and we have a panel of conveyancers that are very efficient and competitively priced.

Click below to see our conveyancing information.

Protection

Purchasing your new home is very exciting, but we need to ensure you can keep your home should something serious happen to you or your family.

We will discuss with you and ensure you have the right protection in place ready for exchange of contracts.

Click below to see our protection information.

Parkers Financial Solutions Ltd is an appointed representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only. Registered address 10 Speen Place, Newbury, Berkshire, RG14 1RX. Registered in England & Wales under number 9290167.