What is Shared Ownership?
Shared Ownership provides an affordable way for you to become a home owner, by buying a share in a new home and paying a subsidised rent on the remaining share. You will then have opportunity to purchase further shares in your home in the future, which we call “staircasing”, as further shares are purchased the rent reduces accordingly.
We promise to:
- Acknowledge safe receipt of your application within three working days, where there is no agent involvement
- Carry out an assessment of your application and send you a firm/conditional offer within 5 working days
- Instruct our legal team to draft the lease and legal documents within five working days of written notification of plot acceptance and payment of reservation fee
- Reserve your plot allocation for a maximum of 12 weeks upon receipt of the reservation fee
- Withdraw your application within five working days of your written notification