'HomeBuy' Shared Ownership is an ideal way to get a foot on to the property ladder or to downsize to a property more suitable and manageable.
You will usually buy 25%, 50% or 75% of the property with a mortgage and pay rent on the remainder of the equity owned by us. After an initial 12 month qualifying period, you may buy further shares, however there is no obligation to do so. You may also be liable for a monthly service charge (as well as the rent). Rents are set at affordable levels and are calculated on the share you don’t own, they will therefore vary depending on share and market values.
Cost of Ownership
The table below helps to illustrate the approx cost of a 50% share. This is only to be used as a rough guide and it is based on 95% LTV (Loan To Value) at 5.9% over 25 years as FTB. These figures for mortgages will vary with mortgage rates, level of deposit and personal circumstances.
| £100,000 |
£50,000 |
£114.58 |
£303.15 |
£417.73 |
| £125,000 |
£62,500 |
£143.23 |
£378.93 |
£522.16 |
| £150,000 |
£75,000 |
£171.88 |
£454.72 |
£626.59 |