ABOUT SHARED OWNERSHIP
DO I QUALIFY ?
Helping you buy your first property
About Shared Ownership
Many people in London don’t think they’ll ever be able to afford to buy a property. That’s why Shared Ownership could be the answer for you.
You take out a mortgage on part of your new home – usually between 25% and 75% of its value – and pay us a fixed rent on the part that you don’t own.
You can even choose to increase the share you have in your home as your income increases, right up until you own 100% of it.
It makes getting onto the property ladder affordable and flexible, as it’s based on how much you can afford to pay.
How do I apply?
Most people who do not own a property are eligible to apply for Shared Ownership with Newlon Housing Trust.
To qualify you should fall into the following categories: You must be a first time buyer who cannot afford to buy a suitable home on the open market.
You should have a household income lower than £71,000 for one and two bedroom homes, or £85,000 for three bedroom homes.
You should have access to savings to cover the cost of the mortgage deposit, mortgage valuation or survey, legal fees and stamp duty (where applicable).
Priority is given to public sector tenants, people who live or work in the borough where the property is located and to those nominated by the local authority.
Contact Newlon Housing Trust today to talk about Shared Ownership.