Shared Ownership

The rent is worked out on a percentage basis of the share of the property that you do not own. The rent amount will be detailed in your lease, Key Information Documents found on your property’s advert and in your offer email. It will also be detailed thoroughly to your chosen solicitors before you agree to purchase who should discuss this with you. 

There is a basic charge per month (our administration fees and building insurance for your property). Additional charges apply to communal areas and sites with management companies, so depending on where the property is, we might be paying for people to maintain certain aspects of the site.

We require a £200 non-refundable reservation fee to secure your interest in a property. If you aren’t in a position to proceed, the £200 fee holds the property for eight weeks. After this time, the property will be available to any other interested parties. There will also be legal fees plus disbursements from your solicitor. It’s always a good idea to obtain a detailed estimate of costs before instructing any solicitor. Additionally, there may be bank or building society fees relating to your mortgage. All of our new build properties come without flooring in most of the rooms, this will be something you'll need to source. You may also wish to consider moving and fixtures and furniture costs. You'll be responsible for any contents insurance you wish to source and use. Our friendly team can talk you through these in more detail.

Applications will assessed on a first come first served basis upon our receiving the full sign off from our preferred financial advisors. Priority will be given to customers who meet any of the following criteria:

• Armed Forces personnel, including serving military personnel and former members of the British Armed Forces (‘BAF’) discharged in the last two years.
• Where a Section 106 agreement is in place and the local authority has prescribed the prioritisation of certain groups for a stated timescale, customers meeting those requirements will be assessed on a first come first served basis.
• Where there is more than one application for a property, applications will be assessed on a first come first served basis once we have received a successful financial assessment from an independent financial advisor. Should you be unsuccessful in your first choice of a plot, we'll endeavour to offer you a similar plot in accordance with the financial assessment you have been approved for.

More information on this can be found in our first come first served policy. (Please be aware this is a draft version of this policy).

Should your application be declined a detailed reason on the outcome will be sent to you by us. If possible, we'll also provide advice on when you will be eligible to re-apply.

We are unable to provide any financial advice, including the amount being purchased. You'll need to speak with the independent financial advisor regarding the reasoning surrounding this, they can then liaise directly with us on the matter.

The scheme is aimed at people who are unable to purchase a property by any other means. However, should you currently own a property or have mortgage ties to a property, you'll be able to apply to purchase with us when you have a sale agreed on your property, or you have legal evidence of your mortgage commitments being ceased.

In most cases, yes, you can staircase right up to the full 100% of your home, at which point you would own the freehold outright. Some properties may have elderly or rural restrictions on this. Again, our sales team will be able to talk to you about all this and give you details about the property you’re interested in.

Yes, you can. You will need to write to us to tell us you’d like to sell, then we’d get an independent valuation of your home. You will be responsible for the payment of this.

We may be able to put forward a buyer from a waiting list before you put it on the open market to keep costs down. If you sell, whatever the buyer pays for your share is yours, subject to mortgage repayments. As with any property, the value of your share may go up or down depending on the current market. You will also be responsible for paying our legal and administrative fees for dealing with the sale.

We recommend to not decorate your property until one year after the property has been built. This is to allow the property’s materials to settle and allow any settlement cracks to be assessed on an inspection we'll carry out at the end of the defect period. Thereafter, you can put your stamp on your home!

In a house, you are responsible for all maintenance and repairs to your home. Some shared ownership customers will receive a £500 annual allowance towards certain repairs within their property for a set period. If this applies to you, you’ll be told at the time of purchase. Find out more about what's involved.

In a flat or apartment, you will be responsible for repairs inside your home and communal areas will be repaired by us, with the costs recovered by the service charges.

Exceptions include repairs which may be covered under a defects liability period. Once moved in, if you wish to make alterations or improvements to your home, you will need to write and get permission from us before changes are made. 

Talk to us to find out if you’re eligible

You'll not be able to have flooring laid in your property before sales completion. You can however contact your sales advisor to arrange an appointment for your chosen flooring company to measure up and quote you in readiness for your purchase date.

Yes. There are certain breeds of pet that will not be allowed. Terms regarding this can be found in your lease.

Please see our Home Ownership policy. (Please be aware this is currently a draft policy).

Please see our Minimum Surplus Income policy. (Please be aware this is currently a draft policy).