If you were to buy a 40% share in a property worth £310,000, the equity you would pay rent on is £186,000. Rent is charged at 2.5% on the un-owned equity share, in this example £387.50 per month.
Blenheim Estate allows you as a shared owner the opportunity to buy further shares in the home, or 'staircase' to own 100% of the home. Your financial advisor can help you determine the percentage of the property that you can afford. Learn more on the Government's Help to Buy South website.
Your annual household income needs to be £80,000 or less, and should ideally be greater than £18,000 per annum. You should also have savings of at least £2,500 to cover legal costs, and a good credit history.
It is also required that you have a local connection to the area or a connection to West Oxfordshire to be considered. The Blenheim Estate Homes team can give you more information.
Help to Buy South are on hand to assess your eligibility to purchase a shared ownership property. If you meet the basic eligibility criteria you can register to search for available properties.
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