Thames Valley Housing has launched a new and
"completely unique" shared ownership model which allows shared owners
to own 1% more of their property each year. Shared Ownership PLUS requires a
purchaser to pay an equity payment equivalent to 1% of the property’s value
spread over 12 months which is added to the monthly mortgage, rent and service
charge payments. The additional payment increases by 3% per annum after the
first year. Shared owners can continue with the additional payments for up to
15 years, but can exit them at any point, retaining the increased equity, and
reverting to a standard shared ownership lease. The payment is made to TVH and
is kept separate from mortgage payments. Find out more on the TVH website.
No comments:
Post a Comment