8 new shared ownership houses will be for sale in 2019 in West Sussex. They will comprise of 2 bed properties and 3 bed properties. The picture illustrates what they will look like. This is a brilliant opportunity for anyone wanting to join the property ladder but who would not normally be able to afford a property in the area.
Who are these properties for?
In the first instance, these properties are for locals with a connection to the West Chiltington Parish, where they are being built. However, if after three months there is no uptake from locals, the houses will be made available to anyone who meets the shared ownership criteria. Potential shared owners must be able to prove they are able to afford the mortgage and rent payments AND would not normally be able to afford a to buy on the open market property in the area. Further information on these criteria can be found here.
How does shared ownership work?
Shared ownership reduces the cost of a house so you can afford a home in an area normally outside your price range. You purchase between 50% and 60% and only pay for this percentage of the house. We own the rest of the property and you pay rent on the share you do not own. When you come to selling the property, you simply sell your share to another person. Unlike other shared ownership providers, we do not require you to sell for a specific price or through a specific agent – you can make your own choices to suit your requirements.
If you would like to know more about shared ownership homes take a look at our website or send us an email at email@example.com
Further information on these new homes in West Sussex will be available on our property sales list next year. In the meantime, take a look at some of the other properties for sale across the country.