Eligibility
The general eligibility criteria for Shared Ownership is as follows:
You must be at least 18 years old
The homes are open to all applicants in all Boroughs, but priority is given to those who live or work in Tower Hamlets.
In London your annual household income must be less than £90,000
You should generally be a first time buyer, i.E. You don’t already own a home. If you do already own, you must be in the process of selling it
You should not be able to afford to buy a home suitable for your housing needs on the open market
You must show you are not in mortgage or rent arrears
You must be able to demonstrate that you have a good credit history (no bad debts or County Court Judgements) and can afford the regular payments and costs involved in buying a home
You should have savings or to be able to easily access at least £4,000 to cover the costs of buying a home. This is a guideline figure – the actual amount you need will depend on the share you are purchasing.
In most cases you will also need to have enough savings or be able to easily access a minimum 5-10% of the equity share you are buying, as a deposit.
Key Features
Bedroom
Fitted wardrobe to master bedroom – sliding mirror doors.
Kitchen
Urban myth (stone grey)
Under wall cabinet lighting
Single bowl sink with chrome fitted taps
smeg appliances including oven, hob, dishwasher, fridge freezer, washer dryer, Island canopy.
Bathroom
Ceramic tiled bathroom including flooring
Chrome towel rail.
Feature wall above bath.
Downlights to the kitchen, living area, hallway and bathroom.
Video door entry system
SkyQ available to those who wish to subscribe.
Fob entry system.
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