Shared Ownership is a great option with incredible benefits for new home buyers, or for those struggling to save a large deposit. It's been helping people get their foot on the property ladder for over 40 years. Why has Shared Ownership stood the test of time? Unlike buying somewhere on the open-market, you don’t need to find a deposit for 100% of the property price. You will purchase a share of the property, which is anywhere between 25% and 75%, and pay a low-cost rent on the remaining share. In many cases, you’ll only need a 5% deposit of the share you’re purchasing, so you could step onto the property ladder with a deposit from just £3,000.
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Here you’ll find answers to a few of the popular questions that we find our customers like to know
Your Memorandum of Sale and your Conveyance plan will show you whether you have been allocated (right to use) a parking space, whether it is demised to you or whether all parking spaces in the vicinity of your property are free for all residents to use. The number of parking spaces you get is set by the local authority planning department
Yes. And there’s no need to let us know if you get one.
This varies from scheme to scheme, and you’ll need to ask permission if you want to install one. There will be more information on this in your Home User Guide when you move in.
Unfortunately, no, you can’t. To keep costs down we buy kitchens, bathrooms, carpets and other things in bulk, often many months ahead of time, as part of the contract between us and the builder.
Everyone who wants to buy from us has to - at first - work with someone from our panel of carefully chosen financial advisors, who are experts in shared ownership and how we sell homes.
They check if you’ve got the income to buy a home. And will tell us how many shares (how big a chunk of it) you can afford at the start.
You can use your own financial advisor too, especially to sort your mortgage. But our advisors will still do the first checks.
We work with:
Chartwell Funding | phone: 01454 540 500 | email: email@example.com
Stephen Douglas Financial Services | phone: 01256 472 722 | email: firstname.lastname@example.org
We advise you not to store bulky or precious items in the lot space as it wont be boarded out for storage and filling this space can affect the airflow and create damp issues. In apartments, you legally only own up to ceiling height and therefore access to the loft space is for access to services / maintenance purposes only.
You can work this out by looking at the site plan, which will either be in the brochure or sent to you by email. The conveyancing plan for your new home will also tell you this information.
As a shared ownership leaseholder it’s up to you to service your boiler. You need to do this at least once a year. It'll say this in your lease.
It is your responsibility to pay for the repairs of your home. Your contract / lease defines this. The good news is that your home comes with a 10 year warranty (sometimes 12), for any major structural damage. This is called an NHBC or LABC warranty. Please note any excess that needs to be paid for any work undertaken will be your responsibility to pay. Please also note that the excess limits increase per annum.