Black Country Housing Group builds and lets properties on a Shared Ownership basis. Shared Ownership is a low cost way to own your home. You begin by buying a share of the property, 25%, 50% or 75% with a mortgage, which you must obtain. Rent is paid to Black Country Housing Group for the remaining share.
For example:
A 50% share of a property worth £100,000 would be £50,000. You would be responsible for the mortgage payment for this amount and you would pay rent on the remaining 50% share e.g. £110.00 per month.
To become a Shared Owner you need to fulfil one or more of the following:
- A first time buyer.
- Unable to afford to purchase a property outright.
Current Availability :
Coming Soon:
- Warstock, Birmingham
- Cardale Street, Blackheath
It is important to note that you:
- Will be responsible for all the costs relating to the purchase of the property such as valuation costs and legal costs etc.
- Will be responsible for the payment of your mortgage and your rent and any other outgoings relating to the property.
- Will be responsible for all the repairs at the property.
- Will be responsible for insuring the contents of your property (the buildings insurance will be included within your rent).
- Will be able to purchase further shares in your property (subject to a qualifying period) until you own the property outright (100%).
Please Note: In some cases you may only be able to purchase up to 75% of the property in total – Please check before you buy.
For more information on shared ownership please call us on 0121 561 1969.