Shared Ownership properties become available in Bracknell as part of the Government’s Affordable Housing Programme. The Council work with Registered Providers and the Government’s Help to buy Agent to enable the delivery of these properties.
The shared ownership properties range from 1 bedroom up to 4 bedrooms and are currently on the council’s housing website under Affordable Housing and can also be found on the HelptoBuy website www.helptobuysouth.co.uk
Shared Ownership enables applicants to purchase a minimum share of 25% to 75% of a shared ownership property. These can be flats or houses and they would require a deposit of 5% to 10% depending on the criteria set by the Registered Provider.
The applicant/s would finance the purchase of their equity share (25%-75%) with a mortgage and then pay rent on the remaining share and this would also include a service charge.
The eligibility criteria may differ from scheme to scheme therefore applicants should check this before proceeding. However, the criteria below will give applicants an idea of what is required:
- Must be a UK Citizen
- Must be resident in the borough
- Must be in employment
- Must earn between £20,000 - £60,000 per year but some schemes require a minimum of £26,000 per year
Applicants should ensure that they have registered with Bracknell Forest Council to express their interest in purchasing shared ownership and also with the Help to Buy Agent as you may also access shared ownership out of the borough.