Woodberry down Shared ownership

Shared ownership Woodberry down refers to the shared ownership properties in the Woodberry down region.

The shared ownership scheme is a first-time buyer scheme provided by the Government to help you get on the property ladder quicker. With shared ownership Woodberry down properties you will essentially own part of the home and pay rent on the side you
don’t own.

The rent can be reviewed at any time and you can own 100% of the shares if you want to stop paying rent. To do this you will need to get a shared ownership mortgage.

Shared ownership Woodberry properties

You will need to approach a current resident who is under a shared ownership already.

Shared ownership schemes are not the only ways to get on the property ladder. You can also use a host of other government schemes to get on the property ladder.

Some of the Governments help to buy schemes include:

  • The lifetime ISA
  • The shared ownership resales
  • The help to buy ISA
  • The help to buy equity loan
  • The discounted sales scheme
  • The armed forces help to buy
  • The older people’s shared ownership scheme
  • The rent to buy
  • The right to own scheme

There are also private market schemes which may have fewer criteria than the government’s first-time buyer schemes.

To be eligible for Shared ownership Woodberry properties then you will need to

  • To have an annual maximum household income of £80,000 outside London
  • To have an annual income of £90,000 in London
  • To have a monthly income which is at least 65% more than the monthly cost of the shared ownership property you intend to purchase. This, of course, depends on the price of the property and how much you want to purchase(which
    will directly affect the rent you pay)

If you are thinking of getting on the property ladder then Our property ladder plan could be just what you need to gain a perspective of how lenders view you and then go on to plan your property ladder journey.

The huuti property ladder plan will show you what government and private market schemes you are eligible for, it will show you your mortgage affordability, help you build your mortgage deposits and monitor your credit score.

Start your property ladder plan