Shared Ownership Property

New Build HomeBuy (shared ownership) is a Government funded scheme which gives you the opportunity to own a home of your own.

The scheme is simple, you buy an affordable share of between 25% and 75% of the property's full market value and pay a government subsidised rent to us on the remainder.

From then on its up to you. You can continue to own a share of the property and pay us a government subsidised rent on the remainder, or you can increase your shares until you actually own the property outright. Either way you will enjoy the security of living in a home that belongs to you.

Who is Eligible?

In simple terms, if you’re finding it difficult to afford to buy a property then there’s a good chance you may be eligible to benefit from this scheme.

Generally speaking, anyone in any of the following groups is eligible to apply:

•  First Time Buyers
•  Key Workers eg in health, education, police or fire services
•  Persons experiencing a major change in circumstances eg

       a forced sale because of divorce/separation

       overcrowding at an existing home due to a new family addition

       having to care for a sick relative

•  Housing Association and Council tenants

Nb: Any potential buyer must be able to demonstrate that they can obtain a mortgage. Credit references will be required and anyone who has been in rent arrears in the previous twelve months may be excluded.

For more information please contact Val Johnston te. 01372 461449 vjohnston@rsmha.org.uk