Shared OwnershipWith 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 deposit at the outset ñ smaller than required for properties on the open market, generally a minimum of 5% of your share, subject to conditions. 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 at Windsor Apartments:
- 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
- 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
You will be required to complete a financial assessment through Censeo Financial – applicants cannot be considered without one. Censeo assess the share that applicants will be able to afford to purchase under the scheme guidelines.
Contact Censeo Financial on 020 7090 7290,
Complete and return Clarion Housing's Application and Expression of Interest form. The sales team will guide you through the next phase.
Application form request
- Completion of Phase 1 apartments (Huntington House) was achieved at the end of 2019 and Phase 2 (Radley House) is anticipated to be September 2020.
- 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 The reservation fee is non-refundable if you decide not to proceed with the purchase or are withdrawn from the purchase by Clarion Housing for any reason.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 solicitorís completion statement as money paid.
- If you have any questions, please do not hesitate to contact Clarion Housing's Customer Service Team on 0300 100 0309, firstname.lastname@example.org
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