Harfleet Gardens

Shared Ownership is a type of affordable homeownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share. 

Standard eligibility criteria for Shared Ownership

• Be at least 18 years old.
• Annual household income must be less than £90,000 (In London).
• Annual household income must be less than £80,000 (Outside of London).
• Not allowed to own another home. If you already own another property (in the UK or abroad), you must be in the process of selling it.
• Not able to afford to buy a suitable home on the open market.
• Able to demonstrate that you are not in mortgage or rent arrears.
• Able to demonstrate a good credit history and show that you are able to afford the regular payments and costs involved in buying a home.
• Have savings or be able to access at least £4,000 to cover the costs of buying a home. (This is a guideline figure, the actual amount may vary.)

Please note: Eligibility criteria may vary per housing association and therefore you should always check the exact criteria with the developer or housing association responsible for the exploitation of the project.

Help to Buy is a government-backed scheme that aims to help first-time buyers onto the property market  with an equity loan (also known as shared equity) of up to 40% of the value of a new build home. 

• Requires only 5% deposit
• Only a 55% mortgage required
• 40% Government equity loan (interest free for the first 5 years)
• Available on new build homes up with a value of up to £600,000

Eligibilty Criteria 

Requirements:

• Minimum age of 18 years.
• Must be first-time buyer.

Not allowed:

• Owning a home or land anywhere in the world at any time.
• To have had any form of sharia mortgage finance.
• Owning a home bought with other people or inherited.
• Being married or in a co-habiting relationship, either now or on legal completion with anyone who owns or has owned a home or land anywhere in the world.
• Purchasing a second home

There are certain price limits on homes you can purchase with an equity loan. The limit varies for each region in England.

*Terms and conditions apply

We checked the information and the developer's representatives confirmed that units in this residential complex can be purchased by using a mortgage.

With the Part Exchange program, the developer buys the existing house of the buyer and in turn the buyer purchases a new house from the developer. Benefits include no estate agents fees, no delays, and less stress. 

*Terms and conditions apply