If you want to find out more about how Shared Ownership works, take a look at our Shared Ownership information pages using the link below. You can also use our property search if your ready to start searching for your ideal home. Stonelea Gardens is a stylish new collection of modern homes, set in vibrant Leyton, East London. All apartments have private outdoor space, whilst the houses feature gardens, with some offering rooftop patios and larger properties benefitting from on-site parking.
Makers Dock has one final boutique 3 bedroom apartment available through Shared Ownership located in Tower Hamlets. This site uses Cookies to enhance your experience. Read our Privacy Policy here I'm fine with this. Published 07 Apr Shared Ownership. Most lenders will lend only to people who already own their own homes or another buy-to-let property.
Even lenders who are prepared to lend to first-time buyers for a buy-to-let may ask more of a new borrower. The type of property you buy can also affect the size of deposit you need to provide, as new-build property normally requires a higher deposit. If you make money on the sale it could mean a capital gains tax bill. Resale homes are a type of property that you can purchase through the Shared Ownership scheme, and offer some differences from New Build homes.
The share you can purchase can vary depending on the housing provider and your financial situation. This will depend on factors such as whether you own a house or a flat, and if the repairs are internal or related to the structure of the property.
This will depend on a number of factors. You are free to decorate your Shared Ownership home as you see fit, however there may be restrictions on major alterations. Most Shared Ownership leases do not allow you to sublet your home, however lodgers are often allowed, given that you get permission from your housing association.
To find out more about the rules relating to sub-letting and lodgers, check out our FAQs page: Responsibilities of a Shared Ownership buyer. The Shared Ownership lease sets out the rights and obligations of both the landlord i.
Yes, you can still by a Shared Ownership home. What is Shared Ownership? Shared Ownership — all you need to know!
The general eligibility criteria for Shared Ownership is as follows: You must be at least 18 years old. Shared Ownership purchasers are often first time buyers but if you do already own another home, you must be in the process of selling it. Plus, all mortgage lending is calculated on a similar affordability calculator, which means it comes down to your income, outgoings, credit rating and the size of your deposit — the same as if you were buying on the open market.
Want to know more about the different Shared Ownership mortgage options? Check out our free mortgage calculator today to see the mortgages available to you based on your individual circumstances. When you want to sell, you need to contact your housing provider to let them know. As there are often long waiting lists for Shared Ownership homes, your provider will then have a set period of time as outlined in the terms of your lease to try and sell your home to other buyers who are looking to purchase through the scheme.
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