You can also apply to buy Shared Ownership homes which are being sold on by their original owners. Homes bought via the re-sale route can usually be purchased through Shared Ownership or on an outright basis.
All you need to do is search for re-sale properties currently available on this website, then log your interest in the home you like or ring a member of the Plumlife Resales team on 0161 447 5050 (Option 2) for more information.
Once you have viewed the property with the appointed estate agent/current owner and are wishing to proceed in buying the share that is for sale, you will need to complete a shared ownership eligibility application on www.helptobuynw.org.uk or www.helptobuymidlands.co.uk (dependent on area).
There is no need to complete this application if you wish to purchase 100% of the property.
If purchasing the share only you also need to contact Metro Finance on 0114 2999 380 to have your rental affordability assessed.
There are certain criteria which you must meet to qualify for shared ownership resales:
- You must not have a household income of more than £80,000
- You must not own another property
- You must be in permanent employment or self-employed
Some shared ownership property leases include clauses such as sinking funds and mandatory buy-backs. Your solicitor should clarify these clauses prior to completion