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Guides and Downloads

A Guide to Shared Ownership

IB3 We Can Explain So

Shared Ownership makes it possible to buy a property which otherwise would not have been affordable. It is a part buy/part rent scheme, where you buy a share in the property and pay rent on the share you don’t own.

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We can help with buying a Resale Property

IB10 We Can Help With Buying A Resale Property

A resale property is a home that the current owner bought through Shared Ownership and now wishes to sell on. The principle is the same as buying a new build through Shared Ownership but you must purchase at least the share that the seller currently owns.

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We can help with selling a Resale property

selling resale (1)

Selling a Shared Ownership (New Build Homebuy) home is known as a resale. When selling your share of the home you must advise Family Mosaic in writing of your intention to sell your property. The Resident Sales team will then assist you through the process of selling your home.

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We can help with Staircasing

IB15 We Can Help With Staircasing

As a leaseholder of a Shared Ownership property bought either new, as a resale or via Social HomeBuy, you can buy further shares in your property. This process is known as staircasing, enabling you to own a greater proportion of your home.

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We can help with Re-mortgaging

IB8 We Can Help With Re Mortgaging Further Advances

When you originally bought your home you may have financed the purchase with the help of a mortgage. Your financial situation may have changed and as a result most people regularly review their finances with the help and support of a mortgage advisor or their mortgage provider.

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We can explain warranty

IB6 We Can Explain Warranty

Family Mosaic are dedicated to building developments to a high standard. However, despite our ethos on high build quality, things can and may go wrong. Our brochure explains how the warranty period works and which warranty claims will and will not be accepted.

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We can explain service charges

IB5 We Can Explain Service Charges

One of the key aspects of being a leaseholder is that you will be required to pay a service charge. This is a sum of money which covers your share of the cost of maintaining the communal area and demise of your development.

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We can help explain your lease

IB4 We Can Help Explain Your Lease

When you purchase your property, you will be required to sign a lease. This is a legally binding contract which states both your rights and responsibilities as the leaseholder, and the rights and responsibilities of your landlord.

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We can help with lease extensions

IB2 We Can Help With Lease Extensions

Your lease will be a standard Homes and Communities Agency (formerly Housing Corporation) model Shared Ownership lease. These were first issued in the late seventies. Many of these leases would have been issued for a term of 99 years and the remaining term on your lease may have diminished significantly.

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