What is the Shared Ownership Scheme in England A Small Guide firsttimebuyers helptobuy

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In this video I talk explain the Government Backed Share Ownership scheme in England. • I talk about the eligibility, how it works and go through some advantages and disadvantages of the Shared Ownership Scheme. • Shared Ownership is a scheme designed by the government to help people get onto the property ladder by allowing an individual or party to buy a share in a property while the rest of the unpurchased shares are owned by a Housing Association. • You are able to buy a share of between 25% 75% of the market value of a property. You then pay rent on the value of the shares you don't own. • After a period of ownership, you are then able to buy more shares in a property through a process called Staircasing. In most cases this process will eventually allow you to reach 100% ownership. • The shared ownership scheme is available on new build flats and houses, but they start of leasehold. Once you staircase to 100% you may be able to buy the freehold off the Housing Association if you own a house. • The scheme is not only for newbuilds, but there are also existing properties under the help to buy scheme through re-sale. • The scheme is designed for First time buyers, people who cannot afford to buy a 100% share in a property or current shared owners looking to move. • I hope this video provides a useful insight into the scheme, and if you have any questions, put them in comments below and I'll try my best to answer. • If you liked the video, hit the like button and consider subscribing to keep up to date with new informational videos! • Follow me on Instagram at: • / rw__property • Credits: • Ding Sound - https://freesound.org/people/Inspecto... • Music: • Freedom by Roa / roa_music1031 • Creative Commons — Attribution 3.0 Unported — CC BY 3.0 • Free Download / Stream: https://bit.ly/-_freedom • Music promoted by Audio Library • Freedom – Roa (No Copyright Music)

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