Shared Ownership / Homebuy

Shared ownership or 'Homebuy' is intended for people who cannot afford to buy a suitable home in any other way. To buy through this scheme you must be in housing need and be unable to afford to buy a property outright yourself. You will have the normal rights and responsibilities of a full owner-occupier.

Shared ownership means that you buy a share of a property and pay a reduced rent the remaining share. You can increase your share in the future when you can afford it, and you may even buy it outright eventually. If you sell the property the percentage of the proceeds you receive is equal to the percentage of the property you own.

The share of the property you buy is funded by a mortgage which has to be arranged with a bank or building society. The remaining share is rented from the social landlord, or housing association. The size of the share you buy will depend upon your income and your savings. The higher the share you buy the less rent you will have to pay. If you buy a flat you will also have to pay a service charge.

The whole of Hampshire is covered by Homes in Hants, which is run by Radian Housing. For more information about how to apply and what schemes are currently available please contact Radian directly by:

Telephone 023 8062 8004
Visit www.homesinhants.co.uk

For further info on Shared Ownership / Homebuy more generally see Homebuy UK

Last updated: 21st February 2012