Part Buy Part Rent

Part buy part rent is also known as shared ownership. The properties can range from one and two bedroom flats to two and three bedroom houses. The properties are either purchased by us or through estate agents or from developers, or we would have purchased land, designed and developed the properties ourselves.

To qualify for this scheme you will need:

• to live or work in the West London region
• to be able to prove to us that you are not able to purchase or rent on the open market
• to be able to get a mortgage on the share that you wish to buy.

There will then be a rent payable on the share that SBHA still owns which will normally be a fairly nominal rent. The rent payment is based on a percentage of the unsold equity and can vary from area to area.

With part buy part rent you can sell your share at any time and we would then find another shared owner to purchase the share that you want to sell. The sale price will be the market value at the time of sale. This will be assessed by a local surveyor working for one of the major building societies. You can also purchase more shares at any time after the first year. The percentage share that you wish to buy will be at market value at the time you request to purchase. You would then need to approach your lender to see how much more they would be prepared to lend you before you decide how much more you could purchase. This process is known as staircasing.

For more information, please call us on 020 8996 6666, alternatively look at the Shared Ownership Guide.

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