Shared ownership is part-buy, part-rent schemes that give first time buyers who live or work in Wandsworth the opportunity to own a share in a new build or resales property. The applicant typically uses a mortgage to fund the share they have bought and pays rent on the remaining share to the housing provider.
As the purchaser only needs the mortgage for the share they are buying, they need to raise a smaller deposit than if they were purchasing a house outright.
Additional shares can be bought while you live in the property - a process known as 'staircasing'. It's possible to staircase all the way to owning the entire property.
Intermediate rent offers you the opportunity to rent a brand new or refurbished home, or a home that is being re-let, at less than the market rate. The rent is subsidised, normally at around 20% lower than what you would expect to pay if you were renting on the private market.
As well as being more affordable, you have the assurance that your home is built, managed and let by a Registered Housing Provider. Intermediate rent is designed to give people a chance to use the savings made on the subsidised rent towards a deposit to purchase a home within the next 5 years.
Sign up to the home ownership register
If you want access to shared ownership or intermediate rent in the borough, register with us by filling out an application form and posting it to back us.
Once your form has been successfully processed, we will send you an eligibility letter and registration number.
People on the register are contacted when housing providers request list of suitable, eligible buyers during the process of buying a shared ownership property or renting an intermediate rental property.
It is important you keep us up-to-date with any income changes as it could increase your nomination eligibility. You can see how much you borrow using a mortgage calculator.