Shared Ownership
Welcome to mhs homes’ Shared Ownership Scheme information for
prospective home buyers. This page will give you an overview of our
scheme and information to allow you to think about your interest in
home ownership.
What is shared ownership?
It is a scheme that enables you to part buy and part rent a
property. You have to pay an amount for the share that you buy and
rent on the portion that you do not. The rent is initially charged
at 3% of the value of the property that you have not brought.
When your circumstances allow, you
will be able to buy more shares in the property, which is known as
staircasing. The aim is that you will eventually buy all of the
property. As you buy a greater share of the property the amount of
rent you are required to pay reduces.
If you find that you need to move out
of the property you must give mhs homes and the agents for the area
the opportunity to find a buyer for you. If within the time scale
shown in the lease a buyer for your share has not been found you
are able to sell on the open market.
For more information see our shared ownership FAQ page.
For a brief guide to the sale process
see our what to do next page.
What properties are
available?
We are currently building sixteen
2 and 3 bed roomed houses at Thomas Harris Close, Halling
which will be ready for occupation from April 2008.
For more information on our properties available for shared
ownership follow the link:
Thomas Harris
Close
If you are interested in purchasing
through mhs homes’ scheme and would like further details please
contact:
Diane Sauerbach
living
Broadside
Leviathan Way
Chatham
Kent ME4 4LL
Telephone 01634 354230
Email post@mhs.org.uk
Please note your home
is at risk if you do not keep up the payments on your mortgage,
rent and service charges on it.