Property Buying Guide
Special features of shared ownership schemes and how to apply
One special feature of shared ownership within HomeBuy is that your eligibility may alter over time. Where a person has been able to buy a shared ownership property because they are a key worker or because they earn a particular salary, and then changes to a job where they can no longer be considered a key worker or earns more, they have five years to buy the property outright or to sell it, either to someone of their choice or back to the housing association. Find out more from your local HomeBuy Agent.
How to apply for shared ownership
To apply for New Build HomeBuy shared ownership in your area contact your loca HomeBuy Agent. They will register your interest, let you know if you are eligible and provide you with information about schemes in your area.
More about shared ownership in our guide:
What is New Build HomeBuy and how does it work? l Who is eligible and what are the selection criteria? l What is involved with shared ownership and who can apply? l How do I increase my share and how much do properties cost? l What rights and responsibilities do I have? l Are there restrictions on resale? l Can I buy with someone? And what about finance and legal issues? l Where do I start and what happens next? l What questions should I ask?l Will shared ownership really enable more first time buyers to buy a home? l Shared Ownership Mortgage basics l Benefits and pitfalls of shared ownership l Shared ownership schemes run by house-builders l The First Time Buyers Initiative/English Partnerships
Useful links
www.communities.gov.uk/
www.englishpartnerships.co.uk
www.housingcorp.gov.uk/
www.direct.gov.uk/
Most useful and most popular pages on this site:
Look for your First Property l Seek First Time Buyer Mortgage Advice l See our Best First Mortgages Comparison Table l Find out about First Time Buyer Mortgages l Find out How to Buy a House l Learn all about The First Time Buyer Mortgage l Shared Ownership