We work in partnership with registered providers (housing associations) to build new homes in the borough for affordable home ownership.
Types of affordable home ownership
Shared ownership - new build
You can buy a share of a new home (between 25% and 75%) and pay rent on the remainder. You can buy more shares over time. For more information, visit Help to Buy.
Shared ownership - resales
These are existing shared ownership properties being sold by their owners. You can buy the share they are selling and pay rent on the remainder. For more information, visit Own your Home.
Equity Loan (Help to Buy)
This is available on new build properties up to the value of £600,000. You buy 100% of the property, but only pay for 60% if you live in London or 80% if you live elsewhere in the UK. The rest is covered by an equity loan from the government. There is no interest to pay on the loan until year six.
To qualify for any of these schemes you need to ensure:
- you have a gross household income of £90,000 a year or less
- you don’t own a home or you will have sold your current home before you purchase the new one
Priority groups for affordable home ownership:
- armed forces personnel
- council and housing association tenants
- local priorities (set by the local authority)
For more information, visit Help to Buy : Equity Loan.
For more information on affordable home ownership, email firstname.lastname@example.org.