FAQs

Here you will find some commonly asked question about Shared Ownership. If you have any other questions or if you require further clarification on any of the answers, feel free to contact us directly.

How can I apply for Shared Ownership housing?

Click on the ‘Properties’ section of this website. All of our properties are listed under an Area or Local Authority. Find a property that suits your needs and should you wish to proceed with your enquiry, click on the ‘Can I Apply’ button. Depending on the Shared Ownership development you will then either be able to apply directly by downloading the application form or you will be asked to register your interest and we will send you an application pack.
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How are Shared Ownership properties allocated?

When a Shared Ownership property becomes available, we will contact applicants on our register (we also obtain applicant information from the Homebuy Agent – see the 'Contacts' page for details of your local Homebuy Agent), advising that properties are available. Applicants who express an interest in properties will be assessed and properties allocated based on your housing needs, your housing situation and your suitability for the particular Shared Ownership development.
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How long will I have to wait before I’m contacted about a property?

It all depends on your personal requirements and our current development schedule. Do feel free to call us at any time to find out if we have any plans to be developing in your area.
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How much savings will I need?

In the current ever changing mortgage market please bear in mind that a minimum of 5% deposit may be required from your mortgage provider. You will also need to have sufficient savings or finance available to cover the normal costs of a house purchase. These are typically a mortgage arrangement fee, solicitor’s fees, stamp duty, moving costs, furnishing costs, utility connection costs etc. For further information, please refer to the website section titled ‘About’ – ‘Costs involved’.
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Once I’ve purchased a Shared Ownership property, am I able to increase my share?

On most schemes you are able to purchase further shares, this is called ‘Staircasing’. For further information, please refer to the website section titled ‘About’ – ‘Buying more shares’.
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Am I able to purchase 100% of my Shared Ownership property?

Normally, if you are in a financial position to do so, you would be able to purchase 100% of your property after you have been living there for 12 months. There are however certain rural schemes where ownership is restricted to a maximum of 80%. Any restrictions are clearly set out in our marketing material so you are aware before agreeing to purchase the property.
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Who is responsible for repairs to my Shared Ownership property?

You will be responsible for all repairs and maintenance to the property in the same way as other homeowners. However, if you purchase a brand new property from us, you may be covered by the remaining portion of the 12 month guarantee we receive from the builders. The property will also have a minimum 10 year NHBC or Zurich guarantee which provides cover against major structural defects.
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What do I need to do if I want to make any improvements to my Shared Ownership property?

If you wish to make any improvements or alterations to your home, you will need to contact the Association to get our written consent. Please use the relevant contact details in the Contacts page of this website.
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What happens if I want to sell my Shared Ownership property?

If you intend to sell your property, generally there is a nomination clause in the lease, which means that we have a period of time to nominate an applicant from our register (the exact period of time is mentioned in your lease). If we do not find somebody suitable by the end of the nomination period, you (the owner) are then able to sell your property on the open market. If we find you a buyer a selling fee is payable.
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Once I have reserved a home, can I gain access to measure up for carpets, curtains etc?

Yes, after exchange of contracts and subject to the availability of a staff member to accompany you.
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Will I be able to fit carpets or have any items delivered before my purchase completes?

Unfortunately no, this is not allowed.
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How much is the council tax?

The Local Authority determines your council tax and it is not officially set until you move in. Contact the council tax department of your local authority for further advice.
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Can I rent the property out?

These homes are not sold on a buy to let basis and you do not have the automatic right to rent out the property. If you wish to rent out your home on a temporary basis because of a change in your circumstances, you should contact the Association who will consider your request. Permission may be granted under exceptional circumstances. Please note: if you have a mortgage you will also need your Lender’s permission.
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Can I purchase a Shared Ownership property if I already own my own property?

This scheme is generally to help first time buyers get on the property ladder, so if you do own your own property you would not be eligible. If however you are splitting with a partner and selling the matrimonial home you may be considered for this scheme.
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Can I purchase more than the 40% or 50% initial share?

Yes, subject to affordability and approval.
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How is my Rent and Service Charge paid?

By monthly direct debit.
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What is included in the Service Charge?

This varies with each development but generally it will be for the upkeep of any communal areas and building insurance. You are responsible for arranging your own contents insurance.
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How much will the Service Charge/Rent go up by each year?

Your rent will be reviewed in April every year, any rent increase will be no more than the rate of inflation + 0.5%. Service charges are reviewed annually and adjusted according to actual costs.
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