Shared Ownership is a form of low cost home ownership which enables people to buy a house in stages, if they cannot afford to buy a property outright. A monthly discounted payment (called an Occupancy Payment) is then due for the remaining share that the Association owns, under the terms of an Occupancy Agreement.
Normally, there would be an initial purchase of a 25% or 50% share and persons subsequently have the opportunity to purchase additional 25% shares, with each increase automatically reducing the amount of Occupancy Charge proportionately.
Opportunities to become a sharing owner with the Association are currently limited, but please contact the Association if you wish any further information.
If you are an existing sharing owner and you require advice on any issue, please telephone the Association’s office on 01698 269119 and we will be happy to help.