What is Shared Ownership?
Shared Ownership allows you to buy a share of a new build property and pay a subsidised rent on the rest. You can normally purchase between 25 and 75 percent of the property. It can often be an affordable alternative to renting or buying on the open market and the remaining share is owned either by a Housing Association or the Council. The combined monthly cost of your rent and your mortgage will usually be substantially less than buying the property outright.
Help to Buy South act as the Help to Buy Agent for Wokingham. By registering with Help to Buy South you are assessed in order to identify the schemes that you could be eligible for. The Help to Buy South service works with a number of organisations including Housing Associations, private developers and Local Authorities to ensure customers are kept informed about all of the opportunities available to them.
There are great opportunities for purchasing a home via this scheme, with new-build housing developments going up across the Borough as well as existing Shared Ownership properties that may also be re-sold.
Apply for Shared Ownership
To apply for Shared Ownership properties in Wokingham register your details on the Help to Buy South website.
It is not necessary to complete a Housing Application with Wokingham Borough Council.
Who can apply?
Anyone can apply to be registered on the Shared Ownership list if they have a housing need. Those with an annual household income under £80,000 are eligible, as well as first-time buyers and those that used to own a home but can no longer afford to buy on the open market. For affordable properties allocated through Wokingham Borough Council, we will always prioritise those living and/or working in Wokingham. MOD (Ministry Of Defence) personnel, Wokingham Borough Council tenants or Housing Association tenants would also be prioritised with the scheme.
For more information read the following documents
More information and useful guidance can also be found on the following websites