|
Shared ownership enables you to buy a share of the value of a property and pay rent for the rest. You may, when you can afford it, buy the whole of the value of your home, and become a full owner-occupier. If you decide to sell your share of the property, any increase or decrease in its value will be passed on to you in proportion to the share you hold.
You will find a lot of information and advice about Low Cost Home Ownership on the on the following websites
Twynham has over 170 shared ownership properties. If you are a shared owner and are looking to sell your share, you must either give us first refusal to buy your share or give us 6-8 weeks to nominate someone to buy your share. These options depend on when you first bought your share.
Rent to Buy Schemes
Cleveland Place Rent to Buy Scheme
We currently have a number of rent to buy schemes available. Rent to Buy lets you move into your own home and pay a reduced rent. The Government backed scheme offers reduced rent of no more then 80% of what you would pay on the open market. You can then take advantage of this and save for a deposit.
After a few years you will be offered to purchase a share of the property, with a view to buy further shares later on. Until you commit to buy your first share you will be a normal tenant and under no contractual obligations to buy.
As part of the new scheme currently being built at Cleveland Place we have pleasure of offering under the Rent to Buy 12 x 2 bedroom quality apartments . Each of these energy efficient homes benefits from the following:-
- Fully Carpeted
- Allocated Parking
- Oven, hob and extractor hood
- Storage room for bicycles
- Walking distance to beach and shops
For more information on these apartments and to see if you may be eligible please click on the link below or contact Sovereign living on 0845 6021618.
Click here to see if you are eligible
If you are a shared ownership leaseholder with Sovereign South+West and have any queries about your property, please contact the senior leasehold services officer on 01635 572119. Or you can find more information on the Sovereign South+West website.
When a shared ownership property is sold on, we call these resale properties. We will always give priority to Sovereign Twynham residents because in this way we can free up one of our homes to rent for people on the local housing register. However, if we cannot find a buyer from the local housing register we will consider other applicants.
More information
If you would like information or advice on how to pay your rent or service charges click here
For more information, please contact Dee Gardner, Resident Services Administrator, on 01202 460346.
|