What is a Shared Ownership?

Thank you for visiting our podcast. This week our podcast is about Shared Ownership's. We discuss the pros and cons of buying a Shared Ownership's as well as FAQ's.

Apologies for the amount of times I say 'hmmmm' - bad habit. Also, I'd like to confirm that you can not usually sublet with a Shared Ownership. I wasn't certain when recording. 

Shared Ownership Prioritisation

While Shared Ownership aims to help first time buyers take those first steps on to the property ladder, the scheme is actually available to anyone (including second steppers, upsizers and downsizers) as long as they meet the eligibility criteria. However, there are some rules in regards to prioritisation:

• Priority will be given to members of the military.


• With some developments, local authority planning permissions may require that preference is given to applicants that already live or work in the area; this will be put in place by the local council and not the housing association.


• You will not be able to purchase a Shared Ownership property if you already own another home. Alternatively, if you do own a property, you must be able to show that you are in the process of selling upon application. - (Share to Buy, 2021)

Links

For more information or to apply for a Shared Ownership please visit: https://www.helptobuyagent3.org.uk

To view more properties: https://www.sharetobuy.com

For more information on selling your Shared Ownership: https://www.sharetobuy.com/guides-and-faqs/selling-shared-ownership-home/