What is Shared Ownership?
When considering eligibility for Shared Ownership properties, the scheme is available to those looking to own their own home but are unable to purchase on the open market. If you meet the following criteria, you are considered eligible to buy through Shared Ownership.
• You must not currently own a property in the UK or overseas
• Your annual household income must not exceed £90,000
• You are a British or EU Citizen, or you have the right to remain in the UK
• You must be over 18 if you are applying for a mortgage
• You must have sufficient savings in addition to your deposit to cover the cost of legal fees and mortgage arrangement
Not sure what you can afford to buy with Shared Ownership? We'll help you work out the costs with our handy affordability calculator tool.
Simply type in a full market value of a home, move the share percentage slider based on the share you'd like to buy, and the calculator will help you to look at monthly costs for buying and owning that home with Shared Ownership.
Learn more https://www.sagehomes.co.uk/about-us/who-we-are/
Take a look at some of our other articles