The Shared
Equity UK scheme for buyers
How it works
The way the Shared Equity UK scheme for affordable home ownership
works is very simple. Shared Equity UK offers a part-buy part-co-invest
scheme for individuals, families or group of friends enabling them
to buy their own home.
The Home-Buyer (that's you) chooses any property and purchases
between 25% & 75% of the home, and the Shared Equity UK Investor-Buyer
buys the rest. The Home-Buyer pays something we term Investor's
Return on the part they don't own.
You (the Home-Buyer) get to treat your home as your own, you can
improve, decorate, maintain generally as you wish and we have also
given you the option of sub-letting rooms to help cover costs if
you like.
We are able to make the Shared Equity UK scheme work because we
ask you to stay with us for a minimum of two years. This is the
minimum amount of time required for the Shared Equity UK scheme
to be worthwhile for our Investor-Buyers. Subsequently you could
move house if you so wish before the two years, however there may
be penalties to pay should you decide to leave.
What you get
Basically, the Shared Equity UK scheme creates a Co-Buyers partnership
between the occupier (the Home-Buyer) and the investor (the Investor-Buyer)
which allows everyone involved to achieve their aspirations - you
get a home of your own and benefit from any rise in the value of
your property, and the Investor maintains a low risk, fair return
on his investment.
With the Shared Equity UK scheme you share in the capital growth
of your home (proportional to your Co-Buyers Share of the property),
and you could save money because you probably will be paying out
less each month than if you rented the same property from a landlord.
Shared Equity UK Ltd looks after the interests
of both parties, managing the process and ensures that the co-buy
relationship is well maintained and both parties are honouring their
side of their contractual obligation.
Remember, you can buy any kind of property anywhere in the country,
re-sale or new build, simply check out your local newspaper or visit
your local high street Estate Agent to research the types and location
of property available in your local area. Any such property can
be made affordable to you with the Shared Equity UK scheme. |