member housing associations
work closely with their respective local authorities and new
house builders to provide brand new affordable homes for sale
utilising an equity loan. This is available to first time
buyers who cannot afford to purchase a property outright but are
able to meet the long term financial commitment of home
ownership. To check if you qualify, please refer to the
are offered for sale on a ‘shared equity’ basis which means you
purchase a percentage of the full open market value
of the property. The housing association will provide an equity
loan for the remaining percentage which is retained as a Charge
on the property. Unlike your mortgage, there are no
repayments due to the housing association. The loan may be
paid back voluntarily or upon a future sale.
percentage you are able to purchase may vary from development to
development. It may be fixed at a given percentage, eg
70%, or you may have the opportunity to purchase between 50% and
90%, dependent upon your affordability.
future you will have the opportunity to
increase your equity share by purchasing additional equity from the housing association (in portions of no less than 10%).
You may also purchase the whole amount of equity outright from the
housing association but
this is normally restricted to the first 3 years of occupation.
You may not choose to do either as there are no time
restrictions of when the equity loan has to be repaid other than
upon a future sale.
* On specific developments, you may have the opportunity to reduce your equity share by offering back a percentage
of equity (no less than 10%) to the housing association who may
purchase it , for example, if your circumstances change and you no
longer can sustain the existing level of mortgage. Please
note, however, you will not be able to reduce your mortgage to
less than 50% of the property's value.
You may offer your property back to the housing association who
may purchase all your equity share thereby owning it outright
and allow you to remain in the property
as a tenant paying rent
* Please refer to the individual
developments under 'Homes for Sale' as
these options are only available where stated.
Find out more
This website provides detailed information on the buying options, along with help and advice on how to apply.
If you earn a single / joint salary of approximately
£15,000 - £40,000
Homes within Reach
could help you get on the housing ladder
Find a home
for sale in your
'Homes within Reach' is not suitable for everyone. Please read
the selection criteria information carefully to be sure you are
eligible for consideration.
All the buying
options require a purchaser to arrange a mortgage from an
approved lender. We therefore strongly advise you to seek your
own financial advice. This will provide you with a clear idea of
the costs and obligations of home ownership. See
for more details.
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