Shared Ownership is part buy and part rent, buy between 25% - 75% of the market price and pay rent on the rest.
Everyone! As long as you are employed, have a household income of less than £80k and do not own another property.
What would the rent be?
You will pay 2.75% rent per annum on the unowned share. For example on £150k, if your mortgage is 50%, your rent would be
£172 pcm on the remaining 50% (These are only indicative figures and are subject to market change and mortgage approval).
Buying a new home outright at Neighbourhood?
Choose your 100% owned home
Reserve your new home with £500
Legal process and completion .
Generally mortgages are based on a 10% deposit.*
Choose the home of your dreams with our experienced sales executives who will guide you through the whole process.
You will be invited to a meeting where we will go through all the plans, kitchen and tile choices. you may be able choose your own additional fixtures and fittings – Many fixtures and fittings are built in as we construct your new home, so you’ll have more choices the earlier you reserve with £500
Now is the time to pay your deposit to your solicitor and sign the contract documentation so your solicitor can exchange contracts.
The solicitors will do their final legal work in readiness for completion, and we will keep you fully updated on the progress of your new home.
NEW HOME DEMONSTRATION
Once your new home has been signed off as build complete you will be invited to a new home demonstration that shows you how your new home works, where all the controls are and how to use them.
DAY OF LEGAL COMPLETION
Move in day is finally here. Our sales executive will contact you as soon as legal completion has taken place and arrange a time for you to pick up your keys. As well as handing the keys over we will take the meter readings and recap on how your home works. We will then leave you to move in. You will receive a call at the end of the day to ensure you are getting settled.
HOW MUCH WILL IT COST ME?
Our experienced sales executive can give you a guide to costs depending on the home you choose to buy and the scheme you buy through.