Welcome

This is the first step to finding your new home

|

i.e. New Cross, London, PO19 or Kent

WINNER - NHA 2016 - Best Large Development Highly Commended - NHA 2016 - Best Regeneration Project United Kingdom Property Awards - Best Development Marketing London 2016-2017

Buying a new build home through the Shared Ownership scheme

buying-with-us_image

Shared Ownership makes it possible to buy a property that otherwise would not have been affordable. We aim to sell to first time buyers who are able to afford the cost of Shared Ownership but unable to buy a suitable home on the open market.

Shared Ownership is a way for first time buyers who can't afford to buy outright to get on the property ladder. It allows you to buy a part share in a home and pay a subsidised rent on the remaining share. In most cases you can increase your share in the home at any time until you own it outright. You are also free to sell your share at any time and move house.

The combined cost of the mortgage on your share of the home and the monthly subsidised rent on the share that you don't own usually works out cheaper than buying outright and often not much more than renting.

Buying a resale home

buying-with-us_image

Buying a resale home through the Shared Ownership scheme

Second Steps and Your New Shared Ownership Home

If you need or want to move but are still not able to afford to purchase a home outright, then Second Steps helps you to purchase a house on the open market, in London, up to a value of £395,000, via Shared Ownership.

 

Staircasing - buying more shares in your home

buying-with-us_image

An introduction to Staircasing

Buying more shares in your home is called 'Staircasing' and most leases allow you to do this to a point where you own your home outright. The price you pay for the additional shares is based on the market value of your home. You may staircase in separate stages, or in one stage to 100%. The minimum share you can buy is 10% of the unsold equity.

Who is eligible?

Most Shared Owners may staircase. In a few cases your lease may limit the share of your home you may buy. This usually applies to homes in rural locations; you can find detailsin your lease.

Retirement Homes

buying-with-us_image


Retirement Homes from Hyde New Homes.

Remortgaging and Further Advances

At some stage, you may wish to review your finances and make changes to your mortgage. Because of their financial interest in your home, Hyde must consent to any increase in your borrowing or changes to your mortgage lender.

Please see the Guide to Remortgaging and Further Advances for a step by step guide and further information.

Your Guide to Your Shared Ownership Lease

The lease is a legal document setting out the agreement between yourself (The Leaseholder) and Hyde (The Freeholder). Everything done in relation to your home and the wider development is governed by the terms of your lease.

 

Buying FAQs

Frequently asked questions on buying a home through the Shared Ownership scheme.

Wheelchair Accessible Homes

Wheelchair Accessible Homes

Hyde New Homes have the following wheelchair accessible homes available that can be purchased through the Shared Ownership scheme. This scheme enables you to buy a share of a home and pay rent on the part that is owned by Hyde. Over time you can buy extra shares until you own the property outright.

Case Studies

Rebecca Blow
Occupation: Designer/artist

Purchased a 1 bedroom apartment at The Parker Building, Bermondsey Spa

Rebecca decided that she had had enough of sharing a house with other people and decided to look for somewhere to live on her own. She had a very brief and unsuccessful look on the open market.
After viewing a very small studio flat in Streatham , which sold before she had time to dismiss it, she realised that shared ownership would be the only way to get a decent place to live in London.

‘I had a friend who bought through shared ownership and seemed very pleased with their place so I decided to investigate the scheme further.

I registered on ‘First Steps ‘which gives you access to all the new properties being built in London for shared ownership. You have to enter some financial information to see if you are eligible but it’s pretty straightforward.

I really wanted to live in Brixton, but prices had gone through the roof there, so I started to look a little further east and found the Bermondsey Spa development. It was really conveniently located and is in Southwark where my studio is located. You can walk into central London from here or hop on a bus or get the Jubilee line from Bermondsey station.

Hyde New Homes sent me an email about their new development, the Parker Building and I arranged to come and have a look at the plans. I had to make three choices of apartment once I decided to go ahead. I put down my £500 deposit and then had a bit of nail-biting wait while Hyde allocated the apartments to all the prospective new owners. They have a priority system where they take into account factors like whether you are an existing Housing Association tenant or if you work in the Borough and allocate accordingly.

Once I had been selected for an apartment I had a chat with the financial adviser and he also suggested a solicitor to use as well.

The buying process was pretty straightforward although there were some delays in completing the building. Hyde kept me up to speed with what was going on and I finally moved in June of 2014.
My experience was much more positive than a lot of my friends who were buying on the open market and were being gazumped all the time and getting very stressed.


It was lovely and warm when I moved in so I spent a lot of time on my balcony tending my plants and just enjoying the weather. It is December now and I have not actually had to use the heating yet as the apartment is really well insulated and has an air circulation system that keeps the temperature constant.

I really like having new fixtures and fittings, which have a warranty, instead of all the usual poor quality fittings you get in the average rental property. The living area is pretty spacious for a one bedroom apartment as well.

One of the best things about my apartment is my monthly outgoings. With rent, mortgage and a very low service charge I pay £700 per month to live here! If I was to rent this on the open market it would probably cost about £1200 per calendar month!

I was paying over £600 per month in a shared house, so to have my own space for another £100 per month is well worth it.

I am collecting things to furnish my apartment as I work for an interior design company. It’s really nice to furnish things how you want it and not make do with your landlord’s furniture.
I am really pleased that I made the leap into home ownership and I have been telling my friends to take the plunge!'