What is Shared Ownership?

What is Shared Ownership?

 

Shared ownership is when you buy a share in a home, and pay rent on the part you don’t own. You can also find out more about shared ownership in our exclusive brochure here.

 

Why buy a shared ownership home?

 

  • You will own part of your home
  • Monthly payments can be less than renting
  • You only buy what you can afford to buy so you don’t overstretch yourself financially
  • You can buy more shares in your home as and when you can afford it

 

Priority for Shared Ownership

 

Priority for shared ownership properties is given to applicants:

 

  • That work for the Ministry of Defence.

 

Am I eligible?

 

  • Your annual household income must be less than £80,000.
  • You should be unable to purchase a home suitable for your needs without assistance.
  • You cannot be a current home owner or own a home anywhere in the world (or be named on the deeds of another property).
  • You must be financially able to buy the minimum share available and pass a financial assessment and secure a mortgage.
  • You must not have any outstanding credit issues.

 

How do I apply?

 

You must complete the online application;

 

For Sussex: https://www.helptobuyese.org.uk/apply-online

For Hampshire: http://www.helptobuysouth.co.uk/how-to-apply.asp

 

 

Once your application has been approved you will be issued with a reference number. We will need this before we can consider you for a shared ownership home.

 

For more information please see: https://www.helptobuy.gov.uk/shared-ownership/

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