Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
Affordable homes for everyone
Thinking of buying a property - SmartShare has thousands of properties to buy or rent across the UK
All 25 shared ownership homes on offer at A2Dominion’s Charlton Village, near Shepperton were sold within three hours of its launch day.
Demand was high on the day with over 70 people attending and with prices starting at just £66,000 for a 40 per cent share on a part buy part rent basis it was deemed a great success!
A2Dominion has been working in partnership with Spelthorne Borough Council on the scheme, along with contractor Inspace Partnerships and architect Stanford Eatwell.
SmartShare is the first national property website that is dedicated to affordable homes including shared ownership and shared equity homes. We have detailed below many of the answers to the frequently asked questions we receive each day.
When you are ready to find your new home, please go to our website www.smartshare.co.uk to view thousands of properties available throughout the UK from many of the leading housing associations and top shared equity developers.
Question: What is shared ownership?
Shared ownership is a great way for all kinds of people to afford their own, new home at a fraction of the price.
Shared ownership is also known as part buy, part rent because shared owners buy a share in their home and pay a reduced rent on the rest. Gradually you may want to buy further shares and eventually own your home outright.
Question: Who is shared ownership for?
Shared ownership is open to a wide range of people who would like to get on the housing ladder.
Buying a new home is one of the most important decisions you will make in your life time and it can be immensely stressful. It is important to be aware of each step you will need to complete before you get the keys to our new home but please note they could vary dependent upon the housing association.
Step 1—Applying to buy
An application form must be completed.
The details can be taken over the telephone at a time convenient to you. The form will then be sent to you to check over and sign.
Once this has been done, the form will be sent to the property organisation on your behalf and followed up by your account manager.
Step 2—The response
Your application will be processed and all the information will be considered with regards to your eligibility.
If successful the purchase price will be confirmed and you agree the size of share you wish to buy.
Step 3—Arranging a mortgage
The HomeBuy scheme is the government’s housing solution facilitated through the HCA (Homes and Communities Agency).
The schemes are run by HomeBuy agents, who can help you through the application process to buy a home on a scheme.
HomeBuy agents are appointed housing associations - non-profit organisations that manage housing for people who have difficulty buying a home.
If you think you are eligible for help to get a home through a HomeBuy scheme, contact the local HomeBuy agent for the area where you want to live.
Click here for a list of HomeBuy agents: http://www.smartshare.co.uk/frequently-asked-questions-about-affordable-...
SmartShare is the first national property website that is dedicated to affordable housing. We have thousands of properties available throughout the UK from many of the leading Housing Associations click here to go to our website www.smartshare.co.uk
The current types of HomeBuy are as follows:
‘Rent to buy’ is for people who could qualify to buy a shared ownership property but cannot afford the deposit for the mortgage. In these circumstances you can rent the property, normally for up to three years, at approximately 80% of the market rental value. You can then save the 20% discount you are getting to build up a deposit for your mortgage. Once you have enough money put aside you can then purchase the property on a shared ownership basis. Sometimes people call this scheme "try before you buy".
SmartShare is the first national property website that is dedicated to affordable housing. We have thousands of properties available throughout the UK from many of the leading Housing Associations click here to go to our website www.smartshare.co.uk
For more answers to your affordable housing questions go to: http://www.smartshare.co.uk/frequently-asked-questions-about-affordable-...
Shared equity allows a borrower to buy a new house in partnership with a developer with incentive terms attached e.g. a reduced interest rate or payment holiday for a defined period. Ultimately you will have to purchase 100% of the property which is generally funded through a mortgage.
Shared ownership is also known as part buy, part rent because shared owners buy a share in their home and pay a reduced rent on the rest. Gradually you may want to buy further shares and eventually own your home outright.
SmartShare is the first national property website that is dedicated to affordable homes including shared ownership and shared equity properties. There are thousands of properties available throughout the UK from all the leading Housing Associations and developers, click here to go to the website www.smartshare.co.uk
For more answers to your affordable housing questions go to: http://www.smartshare.co.uk/frequently-asked-questions-about-affordable-...