New Build Shared Ownership is an affordable way to acquire your first home…

New Build Shared Ownership is an affordable way to acquire your first home. You pay for it by obtaining a mortgage in the normal way. With this money together with your deposit you buy a share of the property. The Housing Association own the rest and you pay a rent to them for the remaining share.

With mortgage rates at an all-time low and with the rent payment set at an affordable level, it really is cheaper than just renting a property.  In the South West particularly, property prices are relatively high in relation to incomes. It is a great way to move into a brand new home at up to a 75% discounted price.

It’s important to know that the entire house is yours. You do not need to share it with anyone else other than your dog!

There are numerous Housing Associations providing new build properties and it is simple to register.

You can apply if your household earnings do not exceed £80,000.00 per annum (£90,000 in London) you are a first time buyer and you currently do not own a home or can’t afford to buy one at the current time.

Of course, once you have found your dream home there are so many complicated things to do. You have to arrange finance and deal with Estate Agents and Solicitors.

Well again, it’s a lot more straightforward than you might think. By buying a shared ownership property you avoid the dreaded “chain” of transactions which you have no doubt heard about.  One seller, one buyer (and a seller who will not change their minds or pull out because a purchase has fallen through or another property has come on the market with nicer wallpaper!).

There are no estate agents to deal with and as long as you find a nice friendly solicitor who understands the process then all should be plain sailing.

That is where I come in!  At AmicusLaw we have people who specialise in this type of transaction and are always happy to provide competitive fixed fee quotes to move you or members of your family into your new affordable home.

Pick up the phone and give me a call.  I’ll gladly answer your questions and help you decide if it is something worth having a closer look at.

Gary Voysey, Chartered Legal Executive.

Please note our Minehead Office has recently relocated to 1 Bancks Street, Minehead TA24 5DJ. 

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