Moat Homes has announced it currently has dozens of properties available throughout the London area for shared ownership.
“Shared ownership is a Government-supported scheme that can help first-time buyers get on the property ladder,” said a company spokesperson for Moat Homes [https://www.moathomes.co.uk].
Shared ownership homes currently on offer include a wide range of properties, from three to one bedrooms, in Essex, Kent, Greenwich and Horsham in Sussex.
Otherwise known as “part rent part buy”, shared ownership involves buying part of a property, while paying a subsidised rent on what is left over.
Buying through shared ownership can mean:
• Combing a mortgage and rent can be cheaper than buying a property outright. Shared ownership can even cost the same or be cheaper than renting.
• More of the property can be bought later on or a part can be sold.
• Buyers can purchase as large a proportion of the property as they can afford.
“Moat is a leading charitable housing association working in the South East of England [https://www.moathomes.co.uk/county/South-East-London-Shared-Ownership] supporting the development of shared ownership communities. We are proud to provide homes that people can afford to rent and buy,” the company spokesperson added.
Shared ownership in Kent [https://www.moathomes.co.uk/county/shared-ownership-kent] offers a range of properties available in the county known as the Garden of England. Kent boasts the Channel Tunnel and borders Greater London, East Sussex and Surrey.
Shared ownership in Essex [https://www.moathomes.co.uk/county/shared-ownership-essex] has a range of properties available in this ancient English county bordering Greater London, Cambridgeshire, Hertfordshire and Suffolk. It also has international links via Stansted Airport.
Shared ownership in Greenwich [https://www.moathomes.co.uk/county/South-East-London-Shared-Ownership/Greenwich] offers a range of properties available in the home of Greenwich Meantime. This historic borough is one of the five that make up London’s Docklands, with fantastic transport links to the heart of London via the River Thames and the Docklands Light Railway.
With shared ownership in Horsham [https://www.moathomes.co.uk/county/shared-ownership-sussex] there is a range of properties available in this ancient Sussex market town close to London and Brighton.
To qualify for shared ownership:
• Applicants have to be at least 18 years old.
• Applicants cannot be able to buy a suitable home on the open market.
• The top level of yearly household income has to be less than £80,000 (for London boroughs it is £90,000).
• Applicants must be first time buyers or have existing shared ownership, although there may be some circumstances in which existing owners may be eligible.
Over the past thirty years Moat has been the leading provider of homes for shared ownership and other intermediate tenures. Moat aims to be a leader in the housing sector, providing financially accessible homes so that more people can move into home ownership through the Government’s Help To Buy scheme – shared ownership and equity loans.
A development partner of the Homes and Communities Agency, Moat develops up to 600 new homes each year and all financial surpluses are reinvested to provide additional affordable homes and services. For further details about the shared ownership opportunities Moat Homes has on offer, please go to the website.
For full details about the Government’s shared ownership initiative and other options go to http://www.HelptoBuy.org.uk