Shared Ownership  

Shared ownership 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.

All schemes across Hampshire are now administred by Swaythling Housing Society. For more information about how to apply and what schemes are currently available please contact Swaythling directly by:

• Telephoning 02380 628000
• Visiting Swaythling Housing Society
  

Keyworkers

Keyworkers are specified groups of public service workers whose services are essential to the health, safety and welfare of our local communities such as teachers, nurses and police officers. In order to help overcome some of the recruitment and retention difficulties for these essential workers, the government have provided some funds to help housing associations provide affordable homes to buy or rent.

Am I a keyworker?

The Government recently developed a new keyworker housing programme called "Keyworker Living". Eligibility for this will vary from region to region and depends upon local recruitment and retention priorities.

Keyworker Living

Under Keyworker Living the following schemes are available:

• "Open Market Homebuy" - the chance to buy a home of your choice on the open market like any other homebuyer. You pay for 75% of the cost of the home and Swaythling Housing Society will give you a loan for a further 12.5%, with the final 12.5% being provided through an equity loan from a mortgage lender.
• "New Build Homebuy" - this is a part buy/part rent scheme on newly built properties. Swaythling Housing Society can sell you a share in a home ranging between 25% and 75% and charge you a low rent on the remaining share still owned by Swaythling Housing Society
• "Intermediate renting" - where the rent is set at a level between that charged by social and private landlords

To find out if you can get help and how to apply for it, you need to contact the "zone agent" that covers the area you work in. The zone agent is the registered social landlord that markets schemes for keyworkers across the area. The zone agent for Hampshire is Swaythling Housing Society.

Please note that if you stop being a keyworker you will no longer be eligible for this scheme.