Shared Ownership PLUS

Fed up with renting? Frustrated because you can’t get onto the property ladder?

Shared Ownership could offer you the solution you’ve been looking for. With years of experience in providing Shared Ownership homes, we have realised that many of our customers want more flexibility. That’s why we’re offering our customers a little extra choice. At Thames Valley Housing, we’re delighted to introduce Shared Ownership PLUS: an easier way to own more of your home.

With standard Shared Ownership, you buy a share in a property and pay rent on the share you don’t own. You also pay a service charge and the usual costs of running a home. If you want to buy additional shares (this is called staircasing), the minimum you are able to buy is 10% but each time you do so, you need to pay a solicitor, pay for a valuation, perhaps stamp duty – and you have to find the extra money from somewhere.

With Shared Ownership PLUS, we’ve made it simpler and removed all of these extra costs.

Shared Ownership PLUS is an optional agreement that doesn’t affect your lease in any way, you would have all the usual benefits of Shared Ownership with an additional PLUS. The scheme allows you to buy an extra 1% of your home each year (if you want to) at a predetermined price. In the first year, the price you pay will be 1% of the property’s full value. There will be a fixed price increase of 3% every year after that and we’ll be able to tell you upfront exactly how much your additional share will cost each year.

You’ll be able to continue on the scheme for up to 15 years as long as your share doesn’t exceed 79% . It’s up to you to decide if you want to purchase any additional shares, the extra purchase is completely optional. The maximum you can buy through this route is 1% each year over 15 years and there is no minimum.

You’re free to sell at any time or if you want to buy more than 1% in a particular year you can by staircasing . This allows you to buy a minimum of 10% more at the current market valuation.

For more details on how it works, check out our Shared Ownership PLUS brochure:

 

 

Visit our shared ownership sales website