Shared Ownership
Shared Ownership, or New Build Homebuy is an alternative to renting and an affordable way to buy a home. With New Build Homebuy you buy a share of your home and pay rent on the rest. South Shropshire Housing Association has many New Build Homebuy properties for sale in various locations around South Shropshire.
If you would like to apply, these are the general criteria that we will look at in assessing your eligibility.
You should:
- be a first time buyer(or going through a change in family circumstances and so wanting to buy a property in your own right for the first time).
- have a good credit history.
- not be able to buy a suitable home, within a reasonable travelling distance from where you work, without help.
- have enough money to cover the costs of buying a home such as solicitors fees, valuations and stamp duty - normally around £3,000, although this may vary.
- be a local person ( as defined by local planning policy)
You are unlikely to qualify for any of the New Build Homebuy schemes if:
- you have a poor credit history e.g adverse credit and CCJs
- earn less than £12,000 per year and more than £60,000
- you give up your permanent job before you complete your purchase
- you have been in arrears with you rent during the last 12 months or are in breach of your current tenancy agreement
Some New Build Homebuy schemes will give you priority if you are:
- a tenant of a Housing Association or a Local Authority
- and/or are registered and on the waiting list (either the Housing Need Register or the Affordable Housing Register) of a Housing Association or Local Authority
How Do I Apply?
We invite you to view the home of your choice then fill in an application form.
You should also register with Orbit First Step, the Homebuy agent for Shropshire and Staffordshire. See the quick links section to go to their website.