What is Shared Ownership
Now that you have found your dream property you're probably asking, "Is Shared Ownership right for me?" At Optivo, we know that a new home is one of the biggest purchases you will ever make, and Shared Ownership help make this a reality.
How does it work?
You'll start by buying a share in your property that's between 25% and 75% of the full value, using a combination of a mortgage and a deposit. You will then pay a subsidised rent on the share you don't buy.
In the future, if your circumstances change and you'd like to, you can purchase more shares in your hime, right up to 100%. As your share increases, the rent you pay decreases.
You need to consider a few things before deciding to proceed:
- Shared Ownership homes are Leasehold, and most houses only become Freehold once you won 100%.
- There will be a service charge to pay towards the management and maintenance of the development, which is show on own price list.
- Affordability and eligibility checks apply, so ask your Sales Advisor for more information so you can start making your dream a reality.
Want more information? You can:
Email us: firstname.lastname@example.org
Call us: 0800 012 1442
Visit our website: optivosales.co.uk