• You earn £80,000 per year or less as a household outside London
• You earn £90,000 per year or less as a household in London
• You are a first-time buyer
• You used to own a home but are now unable to afford one now
• You are already a shared owner but you are looking at moving

With Shared Ownership you can buy a new build or an existing property via a resale programme which housing associations have in place. Before you can do this, you will need to take out a mortgage so that you are able to pay for your share of the home’s purchase price. Alternatively, this can be funded this through savings, but you must remember that Shared Ownership properties will always be leasehold. There may be certain groups of the population who are eligible for priority onto these schemes, for example, the military, but your adviser at Hawke FS will take you through this in accordance with your local authority’s regulations.

Some builders will offer Equity Loans on certain properties. You would need to check who it would be in your area that you would be looking at to purchase offer these schemes.

With an Equity Loan, the Government lends you up to 20% of the total cost of your new build home. You then only need a 5% cash deposit and a 75% mortgage to make up the remaining value. You won’t owe fees on the 20% loan for the first five years of owning your home.

As a reflection on London’s current property prices, the government is currently increasing the upper limit for the equity loan. It is giving new home buyers within the Greater London catchment area between 20% and 40%.

Mortgages for these schemes are specialised and limited to a small number of high street lenders. Your broker at Hawke FS will be happy to advise on and arrange the most suitable mortgage deal for you.