Are you a first time buyer who may not be able to afford to buy a property outright, an existing shared owner, or a home owner who cannot afford their current home?
On Tuesday, December 18, from 4- 7pm, Tandridge District Council is hosting open evening event at Mandrel House, 10 Old Barn Lane off Godstone Road in Whyteleafe, which is a new shared ownership development of one and two bedroom flats.
Shared ownership helps people who may not be able to afford to buy a property outright to part own, part rent a new home with an opportunity to buy bigger shares when they can afford to.
With shared ownership, a share of the home is bought, starting from as little as 25% and rising to 75% of the property’s value. A subsidised rent is paid on the remaining share of the home to a housing association. In time, bigger shares of the property can be bought.
The deposit required for a shared ownership mortgage is lower than if the property was bought outright, as it is calculated on the initial share being purchased rather than on the full value of the property.
Deposits for this scheme in Whyteleafe start at as little as £3,750.
Some of the flats in this development require potential buyers to show a connection to the Tandridge district by either living or working in the area, having lived in the area previously, or have family nearby.
To register your interest in this development call Jade Skates on 07808 204 790.