1. For New Build Shared Ownership homes please look under our Find a Home page where you will be able to find further information on our latest new build schemes such as house type, location and timescales. Should you be interested in one of these schemes please register your interest via the email to our trusted partner estate agents, Oulsnam. They will then reach out to you to discuss your interest and should you wish to proceed direct you to our financial partners, for an affordability assessment.
For a Re-sale Shared Ownership home, these will be available on the online property portals such as Rightmove, Zoopla etc. Should you be interested in one of these properties you will need to speak with selling estate agent in the first instance. They will then reach out to you to discuss your interest and should you wish to proceed direct you to our financial partners, for an affordability assessment.
2. The independent financial advisor will then complete a financial assessment. This will be required ahead of reservation / formal offer acceptance to ensure the property is suitable for you. This process will involve returning the Shared Ownership Affordability Assessment form, a credit check for each applicant and further supporting information such as:
- 3 months payslips
- 3 months bank statements
- Photo ID (Driving licence or passport)
- Evidence of your deposit as advised by the Financial Advisor (Bank statements, or if gifted, a letter from your donor stating that it is a non-repayable gift intended as a deposit for the property)
- Agreement in Principle. Must be for a mortgage product that it is for Shared Ownership
- Any other relevant documentation as requested by the Financial Advisor.
3. Once you have satisfied the above and have been approved as eligible to purchase a Shared Ownership property you will need to:
For New Build Shared Ownership homes: bdht will require payment of the £250.00 reservation fee ahead of reservation. This is refundable upon completion of your purchase.
For a Re-sale Shared Ownership home: the Estate Agent can now formally agree the sale by way of issuing a memorandum of sale. bdht will issue written purchaser approval which will be required as part of the legal process. Both parties will need to instruct their own solicitors to act on their behalf at their own expense.
4. Should a mortgage be required, Bdht will need to approve the mortgage offer once it is received.
5. Continue along the legal process until legal completion with the relevant solicitors advising if any other requirements need to be met.
