Our shared ownership scheme is designed to get people on the housing ladder.
You may be able to buy an agreed share of a property and Connect Housing will charge a rent on the retained share. The share of the property for sale will depend on the property price and individual scheme targets.
To be eligible to purchase a shared ownership property applicants must:
– Your household earns less that £80,000 per year,
– You are a first time buyer or used to own a home but cannot afford to buy one now,
– Able to obtain a mortgage and/or savings for your share [deposits are typically 5-10% although may be higher in certain circumstances],
– Your income is sufficient to cover the mortgage [if applicable], rent and service charges,
– Savings [or access to] £2,500 to cover the fees of buying your property plus the deposit,
– Have access to a minimum 5% deposit.
If you are interested in a shared ownership property you will be asked to complete an online application form with Help to Buy Yorkshire & Humberside who will request details of both your personal and financial circumstances in order to ascertain your eligibility to proceed further to purchase a share in one of our properties.