What to do next
The process in brief:
- Register your interest in mhs homes Shared Ownership Scheme by
contacting Diane Sauerbach.
- You will then be sent an information pack, which will include
the prices of the properties and details of the minimum percentage
that can be purchased.
- If you wish to get further information you will need to make an
appointment to see Diane Sauerbach to discuss the scheme
and check your details.
- If you wish to reserve a property, you will need to pay a
deposit of £500. This will hold the property for 2 months.
- Check that you can afford the property and that you can afford
to buy at least the minimum percentage for the scheme. Then arrange
a mortgage and insurance cover for the building and contents
- Once you are happy to proceed, instruct your solicitor to work
towards an exchange of contracts at which point a further £500
deposit will be required.
- The £500 holding deposit will then be added to this amount to
make a total deposit of £1,000. The balance will have to be
financed through a mixture of savings and mortgage to buy the share
of the property. Once the legal formalities have been completed and
a completion date set you will be ready to move into your new
home.
Your rent payments will commence upon
completion of the purchase and your mortgage from the date set by
your lender.