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Entitlement to buy shared ownership

Can a non council or housing association tenant buy new shared ownership?

Asked on Mar 3 2013, General in Chesham | Report content

Answers (1)

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  • Hi Bino3runo, When it comes to buying through a shared ownership scheme, there should be no issues with buying if you are not a social housing tenant. However, there are a large number of other criteria that you must meet in order to be eligible to purchase in this way. The key point is that you must be able to prove that you are not able to buy a house outright through the normal procedures. You must also be able to prove that you can afford payments for the house you are buying though on a monthly basis in the future. These are both done through presentation of the most recent P60. Buyers must also have significant enough savings that they can meet the initial cost of purchasing through one of these schemes, with proof required, and the means to pay for their part of the purchase through funding such as a mortgage. Many thanks, Scott

    Answered on Mar 5 2013, Report content

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