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Shared ownership
What is Shared Ownership?

Shared Ownership is a Government-funded scheme that helps people who would not normally be able to afford home ownership to purchase a home of their own. The Shared Ownership scheme is also known as part buy, part rent because purchasers buy a…

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Shared ownership
Who is eligible to buy a home through the Shared Ownership scheme?

The scheme is designed to help people who cannot afford to buy the type of home that they need or want on the open market. In most instances, existing council and housing association tenants and people registered for housing with their local…

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Shared ownership
How do I register with Hyde New Homes?

You can contact us online, by email or by telephone to register, or make an enquiry using the ‘contact us’ page on this website. We will normally be able to accept your application to purchase a Shared Ownership property if you fulfil…

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Shared ownership
How does the Shared Ownership scheme work?

The size of the share you buy can be between 25% and 75% of the value of the property, although this does depend on individual circumstances. Normally we sell between 40% – 50% shares, although smaller or larger shares may be available…

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Shared ownership
Do I need to live or work locally to qualify for a shared ownership home? And if so, what is the definition of a local connection – does it mean living/working in the same borough?

Besides the general eligibility  criteria, additional criteria are often specified by the various Local Authorities, therefore, we recommend you check the property listing for the criteria of the scheme you are interested in.   A local area connection means you live or/and…

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Shared ownership
Can I choose the size of the share I buy, or is this decided by the housing association?

The minimum share of the equity you can purchase is determined by the Housing Association and you will be required to pay a subsidized monthly rent on the unsold share of the equity to the Housing Association. However, you may choose to…

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Shared ownership
Can a shared owner buy a bigger home than is actually needed – for example a three-bed flat for a single person?

There is no bedroom size restriction and you can apply for any size of property.

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Shared ownership
Can I get a lodger?

Yes, you can take in a paying guest or lodger, as long as you are still living in the property and do not sign a tenancy agreement. It would make good financial sense, however, to verify through an Independent Financial Advisor IFA…

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Shared ownership
I’m thinking of going travelling for 6 months – can I sublet my home while I’m away?

No, you may not sublet unless you are given permission by the Housing Association in question for special circumstances. Shared ownership is a product that benefits from government funds to make homes affordable for those unable to buy on the open market,…

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Shared ownership
Can I list my home on Airbnb to rent it out for short periods?

No, you may not rent the property out.

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