Day: February 6, 2017

  • Shared Ownership Essex

    Try Shared Ownership Essex To Purchase Your First Home

    Shared ownership is a government backed initiative that helps individuals such as first time buyers to get onto the property ladder. Shared ownership Essex means that you can purchase a share of a property so you can begin owning a home, and rent the rest, however you will have the option of purchasing a larger share of the property at a later date once everything has been sorted. To be eligible for shared ownership you need to at least 18 years of age, and not able to purchase a property which is suitable to your needs on the open market and as well as you need to be a first time buyer or a shared owner, although there are some other circumstances which are accepted depending on your situation. Finally your household needs to be under £60,000.

    It may work out that the option of paying for your rent and mortgage is cheaper for you than purchasing a property outright, that is why it’s important that before deciding whether to go into shared ownership you should spend time working out all of the comparisons and other calculations. An independent mortgage advisor can help you withal of this as they have plenty of experience in this field and will be able to help you work out what’s best for you. When you’re doing this make sure that you consider other costs which will be included such as the deposit for your mortgage, legal fees and mortgage arrangement fess, as these can have a major impact when it comes to which is more cost effective and ideal for you. The process of getting a property with most housing associations can be done in three steps. The first step is usually to register your interest with them, this is so that they can send you homes which are available and that meet your requirements. Then you will go on to view the home as long as you meet the criteria and some may allow you to reserve the property. The final step is to appoint a solicitor and arrange a mortgage, however if you’re going to be renting the property you will be informed of your anticipated tenancy start date. When you’re purchasing shares of the property you can purchase as little as 10% per transaction, the problem with this is that with most housing associations you will only get three transactions and if you want to gain 100% ownership, you have to do it within those three transactions. The cost of your next share will all depend on how much your house is currently worth, at the time. If your property goes up in value then your share will cost more than your first share, but if the value has gone down then your share will be cheaper than your previous shares price. If you own all of your property you can sell it yourself, but once up for sale the housing association will have the right to buy it back first; however if you only own a share then the housing association will choose a buyer. The shares you purchase as part of the property will be purchased at current market value.

    The cost of your next share will all depend on how much your house is currently worth, at the time. If your property goes up in value then your share will cost more than your first share, but if the value has gone down then your share will be cheaper than your previous shares price. If you own all of your property you can sell it yourself, but once up for sale the housing association will have the right to buy it back first; however if you only own a share then the housing association will choose a buyer. The shares you purchase as part of the property will be purchased at current market value.…

  • Houses For Sale South East London

    Buying One Of Many Houses For Sale South East London

    South East London has 5 different boroughs. These boroughs are Southwark, Lewisham, Greenwich, Bexley, and Bromley. There are a huge variety of houses for sale south east London for you to choose from these include small bungalows and apartments ideal for about 2 people, there are larger 4/5 bedroom homes ideal for families, and also your more traditional 2 and 3 bedroom homes ideal for couples and smaller families. Several of the houses for sale SE London, have been recently built which means they have a modern look to them. There are many benefits of choosing to live in one of the houses for sale south east London. A big pro would be that London is a cultural hub, there are many different museums and galleries you can visit, plus each year the city holds around 250 festivals; As well as over 17,000 theatrical performances.

    It’s easy to get around via public transport, this is due to an underground and over ground rail network, and they also have a regular bus service and night bus service so you can away get around. You are able to check live bus departures on different apps to make sure you’re always on time. It’s even seen as one of the greenest cities of its size and has the largest urban forest in the world. It has over 3,000 parks, 65,000 woodlands and 3.5 million gardens; which cover about 40% of the cities surface. It also has plenty of iconic sights and beaches nearby such as Brighton is an hour away, Bournemouth is two hours away and Thorpe Park an exceptional thrilling theme park filled with exciting rides is only one and a half hours away. It’s also a great place to start a business, it’s known as one of the top ten places in the world to start a business. There is plenty of free support available if you choose to do this.

    There are so many unique and stunning available homes in south east London to choose from, some of these will offer individuals the option of shared ownership. Shared ownership means that you will be able to own a share of the property and then pay rent for the remaining share of the property which you don’t own. Shared ownership is a government backed initiative which helps people to get onto the property ladder; this is mostly aimed at first time buyers. When it comes to shared ownership with Moat Homes you will be given the option of purchasing larger shares into the home in the future, this process is called stair casing. People may choose to stair casing as it will reduce the rent that they pay and because when it comes to selling your home, the bigger the percentage of the property that you own, the more profit you will make from it if the value of your home is increased. You can purchase as little as a 10% share per transaction; the problem with this is that Moat Homes limit you to a maximum of three transactions. This means that if you want to have complete ownership of the property you need to achieve 100% ownership by your third transaction. To be eligible for shared ownership, you will need to be at least 18 years old, be a first time buyer, however under some other circumstances which housing associations will allow you to go through with shared ownership depending on your current situation. Your household income must be less than £60,000.…

  • shared Ownership Greenwich

    Could You Benefit From Shared Ownership Greenwich

    Shared ownership means that you will own a share of the property but you will have to pay rent for the remaining share of the property, you will however be able to purchase a larger share of the property in the future. It is a government backed initiative which helps individuals such as first time buyers to get onto the property ladder. There are several benefits of shared ownership such as it is a much more affordable way of getting onto the property ladder, you will be able to sell your share whenever you want and the housing association is responsible for the maintenance and repairs of the property. Learn more about shared ownership Greenwich.

    Moat is a fantastic association which currently employs over 300 people and provides individuals with homes in thriving communities in the South East of England. They have been doing this for over forty years and are now seen as a leading housing association and take pride in what they do. They have a search facility on their website which you can use to browse through the homes which are available for shared ownership Greenwich sale and rent. They always make sure to frequently up date details of properties available on their website, so you will have all the information you need to find the home that’s right for you. They have properties which are available in counties such as Essex, Kent and South East London, plus Boroughs such as Greenwich and Maidstone. Choosing to go with shared ownership Greenwich means you will begin by only owning a percentage of the property, although you do have the option of increasing your share of the property at a later date. You will be able to buy a minimum of 10% per transaction, although you’re limited to three transactions, therefore you only have three transactions to gain complete ownership.

    It could work out that paying for rent and mortgage is cheaper than buying a property outright. You may want to spend some of your time working out all of the different costs which will be included; you could get an independent mortgage advisor to help you with this. Some of the other costs which will be included will be the deposit for your mortgage, legal fees and mortgage arrangement fees. They don’t provide the mortgage only the property; you will have to sort this with a high street lender. To be eligible for shared ownership Greenwich, you need to be at least 18 years of age, you need to be a first time buyer or already be a shared owner; however there are certain circumstances which depending on your situation will allow you to still be eligible for shared ownership Greenwich. You mustn’t be able to purchase a home which is suitable for your needs on the open market and you’re household income must be less than £80,000 or £90,000 if you’re in the London Borough. The process will begin with you registering your interest with them, this is so you can be added to their mailing list where they will send you properties that are available. Once you find a home that you’re interested in and meet your needs then you will be able to view the property. The final step is the purchase process; this means that if you manage to successfully be allocated a home to purchase, then you will need to appoint a solicitor to arrange a mortgage. If you’re successfully allocated a home to rent, then you will be informed of your anticipated tenancy start date.…