Shared Ownership With Clarion Housing

WHAT IS SHARED OWNERSHIP

Shared Ownership is an excellent way for people to take their first step onto the property ladder. You buy a share of between 25% and 75% of the property’s value and pay a subsidised rent on the remaining share. A key advantage is that, as part-owner, you have a security of tenure that renting cannot offer. Over time, you can buy more of the property until you own 100%.

You will need a small deposit at the outset – generally a minimum of 5% of your share, subject to conditions – and you will need to raise a mortgage on the rest of the sum required.

In line with government priorities, priority for Shared Ownership homes is awarded to serving military personnel and former members of the British Armed Forces honourably discharged in the last two years.

People who live or work in the local area also receive priority.

AM I ELIGIBLE

There are certain conditions to be eligible for a Shared Ownership property:

  • Your annual household income must be no more than £90,000
  • You must be unable to purchase a home suitable for your needs on the open market without assistance
  • Windsor Apartments applicants are required to register with the Wandsworth Home Ownership team. Please visit: www.wandsworth.gov.uk/sharedownership
  • You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgments)
  • You must be a first-time buyer. If you already own a home and need to move but cannot afford to, or you have equity from a recent sale, please contact us as there are some circumstances under which you may still be eligible.

THE APPLICATION PROCESS

STEP 1
Register with the Wandsworth Home Ownership Team. Visit their website to complete a registration

Click to register

STEP 2
Wandsworth Home Ownership Team will assess registrations and inform applicants if they have been approved for Home Ownership Housing within the Borough. Clarion Housing will also be informed.

STEP 3
Once shortlisted for a home at Windsor Apartments, you will need to complete a financial assessment through Censeo Financial – applicants cannot be considered without one. They assess the share applicants can afford to purchase under the scheme guidelines.
Contact Censeo Financial on 020 7090 7290,
Assessments@censeo-financial.com

STEP 4
Register with the Wandsworth Home Ownership Team. Visit their website to complete a registration

STEP 5
Complete and return Clarion Housing's Application and Expression of Interest form.

Application form request

NOTES

  • We anticipate the completion of these apartments to be September 2019, this date is subject to change
  • A reservation fee of £500 is required to secure the property once you have completed the above steps. The reservation fee is non-refundable if you decide not to proceed with the purchase or are withdrawn from the purchase by Clarion Housing for any reason. Upon completion the £500 will be deducted from your solicitor’s completion statement as money paid.
  • If you have any questions, please do not hesitate to contact Clarion Housing's Customer Service Team on 020 7378 5638, shared.ownership@myclarionhousing.com

ABOUT CLARION HOUSING

Clarion Housing Group is a charitable housing association with more than 100 years’ experience of developing and selling new homes. We combine award-winning, well-designed properties with excellent pre-sale and aftercare services. Developing new private and Shared Ownership homes, we provide options for a range of customers at varying price points.

Clarion Housing Group owns and manages 125,000 homes across 176 local authorities, and is the largest housing association in the UK.

Clarion Housing Association Limited is a charitable Community Benefit Society (FCA No. 7686). Registered with the Regulator of Social Housing (No. 4865). VAT No. 675 6463 94. Registered office: Level 6, 6 More London Place, Tooley Street, London, SE1 2DA. Clarion Housing is part of Clarion Housing Group.




WORKING IN PARTNERSHIP




Partnership