2 bedroom | Plot 20 Alden Court

£0

Based on a 30% share

Am I eligible for shared ownership?

To be eligible to purchase a shared ownership property, you must:

• have a combined household income under £80,000 (outside of London)
• not own a property, or part of a property, at the time of completing on your purchase
• have a good credit history
• be unable to purchase a suitable home to meet your housing needs on the open market
• be registered with your local Help to Buy agent

Some advantages of shared ownership:

• You'll own part of your home, rather than paying rent with no return
• Your monthly mortgage and rent can work out much cheaper than buying outright and often less than private renting
• You can buy more shares in your home at a later date
• You only buy what you can afford so you don't overstretch yourself financially

Is it affordable for you?

When you apply for Weald Living Shared Ownership, our mortgage broker Metro Finance will ask for detailed information about your income and financial commitments. Weald Living will perform checks to ensure you can afford to purchase and sustain the housing costs before offering you a home.

In general, you will need approximately £3,000 to cover the costs of purchasing a home. These costs cover things like; the reservation fee, mortgage valuation fee, mortgage arrangement fees, solicitor fees, removal costs and utility connection charges.

Household income requirements will differ from development to development, in line with factors such as current house prices, the share for sale, and your mortgage deposit. To purchase one of our shared ownership homes, you normally need a deposit of between 10 and 15% of the value of the share you are purchasing.