Buying a pre-owned Shared Ownership home works in the same way as it would on the open market.
How do I purchase a shared ownership property which is up for sale?
You will need to complete a Shared Ownership eligibility application and affordability checks.
Whether you are buying a brand new shared ownership property or one which has been previously owned, the scheme works in exactly the same way – you purchase up to a 75% share in your home and pay rent on the part you don’t own. Read more about how Shared Ownership works here.
How do I find a previously owned Shared Ownership home?
We list all our previously owned properties on the official Help to Buy website.
The only real difference with a resale home is that it’s not brand new. Because of this, you will have to deal with an appointed estate agent rather than us when viewing the home, but we will be on hand if you have any questions or queries.
Am I eligible to buy a resale home with the Shared Ownership scheme?
There are certain criteria you’ll need to meet to qualify for a Shared Ownership resale home:
– Your household’s combined income is £80,000 a year or less
– You’ret a first-time buyer or you’ve sold/had a firm offer on your current home
– Your income is sufficient to cover the mortgage, rent and service charges
To get started you’ll need to complete a Shared Ownership Eligibility Application, which can be found here.