A part buy, part rent scheme
	A Government backed scheme for people who cannot afford to buy a home outright
	A way to buy a share in a home you can afford now with the option to buy more in the future

You will need a minimum level of income/savings depending on the value of the home you want to buy.

You will need to be able to pay the cost of the mortgage valuation or survey, legal fees and stamp duty. The minimum savings you need depend on the scheme you want to buy or rent into. You may also need to pay the cost of moving home and connection charges for the gas and electricity supplies. In most cases, buying a home involves paying a deposit.

Every Month you will need to make the following payments:

1.	Your mortgage repayment to your mortgage lender
2.	Your rent to the Housing Association you buy from
3.	A service charge and management fee for services you receive
4.	Buildings Insurance

You can buy more shares in your home or buy outright whenever you can afford to (with some schemes you may have to live in your home for a year before you can buy more shares) This process is called staircasing. The amount you pay for additional shares will be based on the value of your home at the time you staircase. When you buy more shares you rent will reduce and if you buy outright you will no longer be required to pay rent.

You can sell your share of the property at any time and an independent survey will decide what your property is worth. The property will be sold at the current market valuation. We will help you do this by looking for a possible buyer on the waiting list. This should reduce the cost of selling your share.

We will help you find a mortgage company who understands the shared ownership system, and may be able to offer a 100% mortgage (for the share you are buying). This could mean that you wouldn’t have to pay a deposit.

The housing association you buy through will have a list of solicitors who understand shared ownership and will often offer a fixed price for the legal work involved with buying a home. The lists are there to help you – you can use any solicitor you choose to.