Shared Ownership

Shared Ownership is a government-backed scheme which provides you with the perfect opportunity to get a foot on the property ladder. Even though you are only buying a share, your home will feel like your own.

The main eligibility for Shared Ownership is:

• Your household income does not exceed £80,000 per year
• You have a deposit (at least 5% of the share value)
• You are a first-time buyer or you used to own a home, but can’t afford to buy outright
• The Shared Ownership property will be your principle and only home
• You have passed a Homes England affordability calculator, demonstrating you are financially able to buy the share value and support the monthly costs
• You have registered with a Help to Buy Agent

 Key benefits of Shared Ownership:

• As the home deposit is taken as a percentage of the share price, you can buy a home with a smaller deposit
• As you’re only buying a share of the property, your mortgage costs will be smaller
• The rent payments you make on the property are lower than renting privately
• You can sell your share of the property at any time
• You can buy more shares in the property after the initial agreement, usually up to 100%, allowing you to own the property outright
• If your lease allows, you may be entitled to a £500 per year contribution towards repairs your property may require.
• You can decorate and personalise your new home to make it your own.

If you’re interested in Shared Ownership, visit www.marqueehomes.co.uk for more information and to view available properties.