Can I buy a shared ownership home?
So you've read all about the benefits of shared
ownership. You're sold on the idea of being able to buy your own
home with a really low deposit and you're all set to get house
hunting…but hold on just a second.
As shared ownership is designed to help more people get onto the
housing ladder there are a few things that you need to know before
There are many people who would love to buy their own home but
just can't afford to. If buying on the open market is proving
impossible, then shared ownership could be for you - as long
- Your household income is less than £80,000 a year
- You're at least 18 years old
- You have a good credit rating
- You live, work or have family living in the area, giving you a
local area connection.
- You have enough savings to cover the initial one-off costs
involved in buying your home - things like solicitors' fees,
upfront rent and the deposit required by a mortgage lender
- You're a first time buyer - but don't write the idea off if
you're already a homeowner
- If your home no longer suits your needs and you can't afford to
buy a suitable property without some help.
If you can tick all of the above boxes then you're well on the
way to becoming the proud owner of your very own home - but before
you can buy, you need to register with your
local Help to Buy agent. Find your local agent.
They'll guide you through the options open to you and will give
you the registration number you need to be able to go ahead with
your application to buy your shared ownership home.
Once you've got your number you're good to go and you can find
all of our current homes
for sale here. We've got loads of information about shared
ownership so please feel free to take a good look around - here's a good
27 January 2017