Life Assurance Guide
Shared Ownership Guide
Jargon Buster
Request Free Mortgage Advice
Support Forum

Shared Ownership Schemes Description of some of the most popular schemes currently available, with full explanations of what they are and how to apply for them.

Home

Don’t put off owning a property when there are so many ways and means of buying your own home.

If you thought it was impossible to get a foot on the property ladder, think again.

Affordable housing was introduced by the Government to help first-time buyers, key workers, council and housing association tenants buy a home through subsidized rates.

The schemes available are run in conjunction with housing associations and developers, who allow purchasers to buy a proportion of a property at a lower cost.

New proposals by the Government means around a third of homes on every new housing development, managed by housing associations, will soon be social rented homes at very low rates. The rest will be ‘intermediate rents’ – about 80% of the market value.

The subsidized rates will be available to those earning less than £60,000, in particular key workers, council or housing association tenants and first-time buyers.

There are some key criteria which must be met in order to qualify and it is therefore vital that purchasers speak with a housing association approved mortgage broker who understands affordable housing schemes thoroughly before proceeding.

If you would like to speak to a mortgage broker who specializes in affordable housing schemes, please click here.

If you would like to see how much you could afford, please click here to use our payment calculator.

Housing Schemes

• New Build HomeBuy (Shared Ownership)

• Open Market HomeBuy (Shared Equity)

• HomeBuy Direct (Shared Equity)

• First Time Buyers initiative - FTBi (Shared Equity)

• Social HomeBuy

This is not a comprehensive list, but as you can see there are quite a few different schemes available to choose from. However be aware that not all schemes are available on every development.

For an explanation of the main schemes available please click here

This site is sponsored by Mortgage Warehouse Corporation and The More Group. Both are whole of market mortgage brokers and are approved Housing Associations IFA panel members. They are used to assess and qualify applicants on behalf of Housing Association’s and are specialists in affordable housing schemes.

Theres no catch!

Affordable housing is out of reach for any households earning over £60,000. There’s also a requirement of around £3,500 in savings to cover costs and fees, plus around 10% deposit on the share on which you’re taking out a mortgage.