What share can I buy under the shared ownership scheme?

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What share can I buy under the shared ownership scheme?

Under the Newbuild Homebuy scheme you can purchase between 25% and 75% of the value of a home, most of our clients tend to purchase 40%-50% initially of the home. The maximum and minimum share will depend of the organisation you will be dealing with. You will then have to pay a rent on the share which is owned by the local authority / housing association / social landlord. This will be at a monthly discounted rate, in most cases the monthly rent payments and the mortgage payments put together will be cheaper than a single monthly mortgage payment on the property. Under the Newbuild Homebuy scheme the lower limit to buying is 25% of the homes value. The rent charge each year for the part owned by the housing association / local authority or social housing land lord will be a maximum of 3% of the value that you dont own own each year. You can purchase more shares in the home as and when you can afford too.

Shared Ownership Mortgages Frequently Asked Questions

What are the main Disadvantages ?	Can I make any changes to the property?
What percentage can I purchase ?	What are the different types?
What happens if I want to sell ?	How do I find a Shared Ownership property?
What are the main Advantages ?	Can I buy more share of the property?
Do I qualify for a shared ownership?	What are the up front costs ?

Mortgage Help Desk UK - Mortgage Products

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