New Build HomeBuy

Previously called Shared Ownership, this scheme allows you to buy a share in one of our new homes that you can afford.

In the future you can simply sell your share for its value at the time. Alternatively you can buy further shares in your home, until you own it outright.

We offer initial shares between 25% – 75% of the current value of the property.

You pay a subsidised ‘rent’ on the remaining share that you haven’t initially bought; this means that your monthly outgoings will be affordable in relation to your income.

Example:

• Value of house = £160,000
• 40% share = £64,000
• Monthly payments on £57,600 mortgage @7%* = £410
• Monthly ‘rent’ on as yet un-purchased (60%) share = £220
• Total monthly mortgage/rent outgoings = £630
• A gross income of around £24,500 would be needed for this purchase

* Based on a 25 year repayment mortgage; please note mortgage rates vary

We also have currently (shared) owned homes which become available for purchase on a regular basis. For more information click on ‘Existing Shared Ownership homes’