Shared Ownership at The Refinery


Shared Ownership is an alternative home ownership scheme which gives first time buyers, and those that do not currently own a home, the opportunity to get on the property ladder at an affordable price.

 

A government backed scheme, Shared Ownership allows you to acquire a share of a home – usually between 25% and 75% – and only pay a mortgage on the share purchased, and subsidised rent on the remainder. 

 

With Shared Ownership, you always have the option to buy additional shares in your home until you own the whole property. This scheme, called Staircasing, allows you to eventually become a full homeowner when the time is right for you. 

 

At our East London development, The Refinery, your application is assessed on an individual basis. However, you must not own a property and have a household income of less than £90,000 per annum. 

 

If you meet these requirements and are ready to begin the home buying, you will first need to have a financial assessment to establish what you can afford. You will also need to have a deposit ready, plus the budget available to pay for legal and conveyance costs. 

Once your financial assessment has been completed, and you have been approved for a mortgage, you can then reserve your home with just a £500 reservation fee, which goes towards the cost of your new apartment. 

To find out more about eligibility and the home buying process, simply email our sales team on sales@shgroup.org.uk

 

Are you looking for a stylish and modern Shared Ownership home in East London? 

 

Our brand-new Shared Ownership development in East London, The Refinery, is perfectly located in the rejuvenated Royal Docks area of West Silvertown, E16. 

 

To receive exclusive monthly email updates about this one, two and three-bedroom development, register your details with us now on our website.