Shared ownership

If you are interested in buying a home, but cannot afford to buy one outright, there are a number of Help To Buy schemes available, including shared ownership (part-rent, part-buy).

Households with an income of less than £80,000 can apply directly to the Help To Buy Agent for these schemes. You do not need to be on Waverley's Housing Register.

BPHA is the government-appointed Help To Buy Agent for Surrey.

Help To Buy schemes available

Shared ownership - new build and re-sales

Depending on how much you can afford, shared ownership allows you to buy a percentage share of a property while a local housing association retains the other share.

It is sometimes known as 'part-buy, part-rent' because you will then be charged a rental payment on the remaining share owned by the housing association. In most cases, shared owners can choose to buy additional shares later on to increase their equity.

Equity loans

The Help to Buy equity loan is designed to help you purchase specific new-build properties priced up to £600,000 from participating registered developers with as little as a 5% deposit.

The Government lends you up to 20% of the cost of your new-build home, so you'll only need to provide a 5% cash deposit and a 75% mortgage to make up the rest. You also won't be charged loan fees on the 20% loan for the first five years of owning your home.

How to apply

To apply for shared ownership and other affordable home ownership schemes in Waverley, applicants must be registered with the Help To Buy Agent, BPHA. To register, please use this link: Apply online - Help To Buy East & South East

If you would like to discuss the registration process, please contact the Help to Buy team on 03333 214044 or helptobuyeastandsoutheast@bpha.org.uk

More information

1. For general information about shared ownership, please contact housingcustomerservices@waverley.gov.uk

2. For more information about any specific new shared ownership schemes currently in development please contact Alice Lean, Housing Strategy and Enabling Manager, by email to alice.lean@waverley.gov.uk or telephone 01483 523252.

3. You may be interested in finding out more about shared ownership in Waverley at a drop in event we will be holding on 28.09.19 from 10am-12.00 midday at the Borough Hall, The Burys, Godalming, GU7 1HR (the entrance is on Bridge Street, opposite Waitrose car park).

Page owner: Jack Crawford. Last updated: 13/06/2019 12:12

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