Shared Ownership in Stratford Upon Avon
Stratford Upon Avon is best known for being the birthplace of William Shakespeare, the country’s most famous writer. However, literary associations aside, this town also offers many other benefits for residents; such as plenty of convenient amenities, picturesque surroundings and excellent transport links to Birmingham and London.
Its popularity means that property prices are high, which can price some people out of the market. Shared ownership schemes are available to help buyers get on the property ladder, without making such a large initial investment.
How Do Shared Ownership Schemes Work?
It’s fairly easy to apply for the shared ownership scheme in Stratford Upon Avon, though you must meet certain criteria in order to be eligible. You can find out more about this on the government website. Using the shared ownership scheme, you can pay for your house purchase in one of two ways; using your own savings, or applying for a mortgage.
Under the scheme, you’ll own an agreed percentage of your property, with the remainder being owned by your local council or housing association. You’ll pay them an agreed sum of rent until you’re in a position to buy the property outright, or purchase the rest in manageable stages.
Latest Shared Ownership Developments
Stratford Upon Avon – Shared Ownership Homes
This scheme is ideal for those who cannot afford to buy a house that meets their requirements (for example, those who need a certain number of bedrooms to accommodate their family).
To qualify, your gross household income mustn’t exceed £80,000 per annum, and you’re not permitted to already own a property. You’ll still require a deposit, but this is smaller than it would be if you were purchasing without the scheme in place.
Stratford Upon Avon New-Build Properties
New-build houses are always sought after, and it’s not hard to see why. They’re usually covered by developer /construction company guarantees, which provides valuable peace of mind, and they’re usually situated in great locations, close to the town and transport links.
To apply for the shared ownership scheme in Stratford Upon Avon, you’ll need to get in touch with the Housing Advice Team at Stratford Upon Avon’s District Council.