FAQs

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The deadline to open Help to Buy ISAs closed on the 30th November 2019. However, if you had an account before the deadline you can reap the rewards of the scheme till the 1st December 2030.

We have six Retirement Homes located in Welling, Erith, Bromley, Chatham, Canterbury and Tonbridge. These homes are sold at 70% of the current full market value. If you wish to sell your home in the future, it will be sold at 70% of the new market value.

If you are retired and looking to enjoy independence in an environment that offers companionship when you want it and privacy and assistance when you need it, these developments may be suitable for you.

You are entitled to buy additional shares in your home at any time after you purchase a shared ownership home.  This process of purchasing additional shares and increasing your ownership is called Staircasing.  The price you will pay for an additional share is relevant to a proportion of the current full open market value. The greater the share you buy in your home the less rent you will pay.

When you Staircase to 100% ownership you will pay no further rent to Hyde, however, there may be a monthly service charge payable. Some Share Ownership leases restrict Staircasing to 80% ownership to ensure that the property is retained for local people.

You will need to cover your conveyancing fees, any other professional fees such as those of an Independent Financial Advisor or home survey and stamp duty.

Our sales consultants will be happy to provide with a steer on what these costs may comprise in your case.

If you are looking to purchase a Shared Ownership home in London you must have a household income of no more than £80,000 per annum in order to apply. Outside of London this income figure drops to £80,0000 per annum.

In some circumstances applicants with a connection to the borough where the home is located may be given priority.

Many shared owners are first time buyers; others are people who have had to leave their existing owner-occupied home; age is not a criterion, but you must be able to afford the cost of the shared ownership rent and mortgage and any service charges.

If you do not meet the income criteria, our advice is to contact us notwithstanding, as there are various different scenarios which may render you able to purchase. For example, you may have a larger deposit saved up, in which case your minimum income can be lower.

Our sales consultants are specialised in this process and will happily guide you. They welcome any queries and will work with you towards a positive outcome where that is possible.

This is determined by the Service Charge team at Hyde.

They work in conjunction with the Project Manager for the development to determine which materials have been used, their probable longevity, building insurance costs  and also which facilities are available, such as lift, communal gardens etc, as well as what the cost of maintaining them would be. A sinking fund is also factored in for future replacements.

The criteria and sales process is the same as buying a new build property.  However, you are buying the property from the existing shared owner rather than Hyde.

Hyde offers a very competent service for the resale of a shared ownership home. Please contact our resales advisors on 0345 606 1221 for more tailored information.

Home improvements are welcomed, however, the plans would still have to be approved by the freeholder.

This includes changes such as knocking down an internal wall to create an open plan kitchen/living area.

With all Hyde’s shared ownership homes, there is an internal approval process. This is to ensure that changes are feasible and will not weaken the structure of the building.