A PERFECT PARTNERSHIP
You can buy an initial share of between 25% – 75% of the property’s value, and pay a subsidised rent on the proportion you don’t yet own. You can choose to increase the share you have in your home as your income increases, until you own 100% of the property. This scheme makes getting onto the property ladder affordable and flexible, as the split between owned/rented is based on how much you can afford to pay.
CAN I APPLY?
Most people who do not own a property are eligible to apply for Shared Ownership with Newlon Living.
- To qualify you should fall into the following categories:
- You must be a first time buyer who cannot afford to buy a suitable home on the open market.
- You should have access to savings to cover the cost of the mortgage deposit, mortgage valuation or survey, legal fees and stamp duty (where applicable).
- Priority will go to people who live or work in the London Borough of Tower Hamlets.
- Gross household income must not exceed £90,000 per annum.
Newlon Living is part of Newlon Housing Trust, an award-winning charitable housing association founded in Hackney in 1968. Today we own or manage 8,000 homes in boroughs across north and east London. Newlon provides a wide range of affordable housing, including Shared Ownership homes and we have an experienced sales team dedicated to helping you take a first step onto the property ladder.