Shared Ownership

What is Shared Ownership?

Shared ownership means that instead of raising a full mortgage on a new home, you buy a share of it, and pay a subsidised rent on the other part to AHL. Your first share purchase can range from 25% to 75% depending on your financial circumstances, and if your income increases over a period of years, you can buy more shares and increase your equity in the home, even purchasing it outright if you can afford it in most cases.

Shared ownership is available for:

  • New build properties - Click here to view our current availability : Last Update - 23/07/2010
  • Resale Properties - where the current owners are selling their share of the property. Call us on 023 8068 4300 for more details.

Am I eligible for Shared Ownership?

To qualify for shared ownership you must be in permanent employment and be in a position to raise a mortgage for the part you are buying. The amount you must be earning will vary depending on property prices where you want to live. However, we will be unable to help you if we you earn sufficient to enable you to purchase a home outright without the assistance of our shared ownership scheme.

There are some initial costs involved in buying a shared ownership property just as there are when buying on the open market.

These include:

  • Valuation fee
  • Legal fees
  • Deposit

Therefore you will require sufficent savings to cover this expenditure.

You must have a good credit history with no record of County Court Judgements, loan defaults or bankruptcy. We financially appraise and credit check all applicants for shared ownership.

You must also be a first time buyer, although there are some exceptions to this. For example we can consider you if you have previously owned a property with a partner but where that relationship has broken down.

Further information
Call us on 0800 0191 469 if you would like further details or email sales@atlantichousing.co.uk