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Guide to purchasing your new home

See below a guide to purchasing a shared ownership property from us:

  • What is shared ownership

    Purchasing a share of a newly built home or through a re-sale programme (for example you can purchase 50% of the market value) has never been more affordable, you can pay a low deposit and keep your monthly mortgage payments down, with the option of purchasing further shares once you have lived in your home for 12 months, or when you can afford to purchase the property outright.

  • Find a property

    This is the exciting part! You can view the properties that we have available and on some of our developments look at a show house. All of our properties are advertised on our shared ownership page,  along with photos and walk through videos. Our Sales Advisor can arrange an on-site viewing at your convenience.

     

  • Applying for a property

    Once you have found a property that you like, you will need to apply through the Help to Buy website.

    To find out which application form you need to complete, please contact our Home Sales Advisor on 0161 218 1303 or email sales@stockporthomes.org, who will guide you through the process.

  • Reserving your property

    Once your application has been approved and you wish to reserve a property, we will require a number of documents from you before we can accept a reservation fee.

    The documents you would need are:

    • Mortgage Offer in Principle
    • Proof of deposit for example a bank statement to show the funds
    • Proof of identity for example a passport
    • Proof of current address, such as a utility bill, credit card statement or phone bill
    • Three months banks statements and wages slips

    Once we have the above documents we will carry out fraud and affordability checks to confirm that you do not own another property or have any other debt that we have not previously been made aware of that could make it difficult for you to keep up with rent and mortgage repayments.

    To reserve a property you will need to pay a non-refundable deposit of £500. This deposit will take the property off the market and the reservation fee will be deducted from the final purchase price.

  • Legal stage

    Once you have reserved your property you will need to instruct a solicitor. We recommend that you find a solicitor who is experienced in dealing with shared ownership homes.

    Your solicitor should keep you updated throughout the legal process; however our Home Sales Advisor will also be on hand to update you on progress and answer any questions that you may have.

    You will be required to sign a lease contract with Stockport Homes and it is strongly recommended that you read this lease and contact us if there is anything that you are unsure about.

  • Moving in

    This is the best bit!

    You will be greeted by the Home Sales Advisor, who will hand you the keys to your new home and talk you through the home owner pack. You can also rest assured that you have a dedicated point of contact within us and we will always be on hand for you.

    We have received great feedback, including Mr Gibb, who contacted us following his recent viewing to say:

    I would like to thank you for your kind attention and would like to just pass on that I was very impressed with the very professional, knowledgeable and friendly way in which you work with customers.

    We have received fantastic feedback from Mr I who has recently moved into his new home:

    We just want to thank you and your fabulous team for such careful attention to out beautiful home! We are just about settled and we couldn't be happier. It was a pleasure working with you and your company for our first ever home purchase. We will certainly refer our friends to you!

     

For more information about shared ownership, please contact our Home Sales Advisor on 0161 218 1303 or email sales@stockporthomes.org.

You can also find out more about what it means to be a home owner.

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Page last reviewed 29/09/2017