Buying Process

Shared Ownership is great for those who are looking to get on the property ladder but can’t afford the deposit and mortgage needed to buy a property outright.

It’s popular with first-time buyers, but is open to anyone who meets the following eligibility criteria:

• Your household income (i.e. you & your partner if buying together) is less than £80,000
• You don’t own a property at the time of completing a purchase on your new home
• You have enough savings to cover a minimum 5% mortgage deposit (based on the value of the share you buy, not the full market value) and other costs such as solicitors’ fees

Find out more about eligibility here: Is Shared Onwership For Me?

Check out our selection of homes, available now and coming soon across the north west: Find a Home.

Whether you’re a first-time buyer, a second-stepper, or you’re looking to downsize, you’re sure to find a home that’s right up your street.

Once you’ve found your perfect home and registered your interest, you can apply for it using our Shared Ownership Application Form.

You will be emailed instructions on how to create an online account once the homes are released for sale. Once registered, simply log into your online account to find and complete the Shared Ownership Application Form, making sure to select the development you are interested in.

Our Sales team will review your application within 2 working days before getting in touch with next steps.

Once your Shared Ownership Application is approved, you’ll be directed to specialist Shared Ownership mortgage advisors, Metro Finance, to complete your free affordability assessment to find out what share size (between 10% and 75%) would work for you.

The affordability assessment is split into two parts:

1. The initial assessment – a quick check to confirm your affordability
2. The detailed assessment – a closer look at your finances to understand how much of your home you can comfortable afford to buy

As part of your detailed assessment, you’ll need to provide some supporting documents, including:

• Bank statements
• Payslips
• Proof of address
• Passport/Driving Licence

Once your supporting documents are provided, Metro Finance can also help you secure a mortgage agreement in principle (AIP), or you are free to use your own mortgage broker if you wish.

Once you have submitted all of your documents and have your AIP from the mortgage lender, you can pay your £250 reservation fee to us and we will take the property off the market.

You will need to choose a solicitor to deal with the legalities of buying your new home. A specialist Shared Ownership solicitor can help make the process run smoothly. Take a look at this list of local solicitors: New Homes Solicitors

Within the next 28 days, your lender will instruct the valuation on your new home. You will pay for your searches and your solicitor will finalise all of the legal work to exchange contracts.

Lastly, we will agree a completion date with you. Two weeks before you complete we’ll arrange for a home demonstration to show you how everything in your new home works and on the day of completion you’ll get the keys and a little moving in gift from us!