Affordability
What is part buy/part rent?
We are able to offer new homes to own on a part-buy/part rent basis. Part buy/part rent options come in the form of a Government funded scheme called New Build HomeBuy (formerly shared ownership) that gives you the same rights and status as a homeowner.
This means that you purchase a mortgage for a percentage of your home and pay a subsidised rent on the remainder. The rent is paid to Shepherds Bush Housing Association, a subsidiary housing association of the Shepherd’s Bush Housing Group.
Who can buy a part buy/part rent home?
First time buyers can apply to purchase a property through shared ownership. This scheme is open to all residents of the UK with a maximum household income of £60,000.
Am I eligible?
To qualify you must meet the following criteria:
1. If you have ever had a county court judgment against you, it must be satisfied.
2. You must be a UK resident or have ‘right to remain’ clearly established and shown in your passport
3. You will need to meet the minimum income requirements. These vary from scheme to scheme. We also take into account any financial commitments you have, such as bank loans, to make sure you can afford the property.
You can use our affordability calculator to help. Alternatively, visit the Housing Options website at www.housingoptions.co.uk for a comprehensive guide.
4. You must have sufficient savings to cover legal fees and moving costs.
We will not be able to assist you if you can afford to buy the property outright on the open market.
What’s the minimum/maximum share I can purchase?
The minimum share you can purchase in a New Build HomeBuy starts at 25% and the maximum 75% but this varies from scheme to scheme.
How can I find out more information?
Contact the Issigonis Sales Team on 020 8743 7197 or 020 8743 5844
