At Winfields Group, we help Housing Associations in the UK sell and market their Shared Ownership homes.
If you have any questions or need advice on Shared Ownership, our expert Thomas Winfield is just a call away on: 01803 320969.
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Shared ownership allows you to buy a share of a property (usually between 25% and 75%) and pay rent on the remaining share, which is typically owned by a housing association. It’s designed to help individuals who can’t afford to buy a property outright.
Winfields Residential has extensive experience in guiding clients through the shared ownership process, ensuring that you get a property that matches your needs and financial capability.
Eligibility criteria can vary, but generally, you must be at least 18, have a combined household income that falls below a certain threshold, and either be a first-time buyer or a previous homeowner who now cannot afford a home.
Typically, you can purchase between 25% and 75% of the property’s value. The exact amount can vary based on your financial assessment and the housing association’s guidelines.
Yes, this process is called “staircasing.” Over time, you can buy more shares in the property, potentially owning it outright.
The rent on the portion you don’t own is typically set at a discounted rate and will be defined by the housing association.
Just like any other property purchase, you’ll need to account for mortgage fees, legal fees, and potentially a deposit. Additionally, you might have service charges and ground rent.
Yes, if you decide to move, you can sell your share of the property. The housing association usually has the “first right of refusal.”
We offer a variety of properties under this scheme, from apartments to houses. Our listings are constantly updated, so it’s best to check with us for current availability.
No, they are different. Shared ownership involves buying a portion of a property and renting the remainder. Shared equity involves buying a property with the help of an equity loan.
Generally, minor alterations are permitted. However, for significant changes, you might need permission from the housing association.
If you face financial difficulties, it’s crucial to communicate this early on. We can advise on possible next steps, which could include selling your share or seeking financial counseling.
Yes, you’ll need a shared ownership mortgage. We can guide you through this process and even recommend lenders familiar with the scheme.
Reach out to our team via phone, email, or visit our office. We’ll guide you through eligibility checks, property viewing, and the entire purchase process.
Typically, yes, but there might be a minimum percentage set for each purchase. The process and costs will vary based on the housing association and current property value.