![adobe](/media/1064/download.jpeg)
Download and complete the form and send it to sales@peaksplains.org
Shared Ownership makes buying your dream home more affordable.
With high house prices, large deposits and lenders unwilling to lend, the prospect of buying your own home can seem like an impossible dream.
Don’t worry, there are a number of other options to consider. Shared ownership is one of them.
Basically, you buy a share of the home (usually around 50%) and the rest of it belongs to us, Peaks & Plains Housing Trust.
You pay a mortgage for the percentage that you own, and you pay us rent on the rest.
You get all the security of owning your home and you get to make a start on the property ladder, but you only have to pay a fraction of the total asking price.
You can buy a home through Shared Ownership if your household earns £80,000 a year or less and any of the following apply:
Next steps
You will need to do a financial assessment so that we make sure that we sell you the most affordable share.
Email sales@peaksplains.org and we'll put you in touch with the assessment company.
In order to reserve your home, you will need to take the following steps:
You can buy a home through shared ownership if both of the following are true:
• your household income is £80,000 a year or less (£90,000 a year or less in London)
• you cannot afford all of the deposit and mortgage payments for a home that meets your needs
One of the following must also be true:
• you’re a first-time buyer
• you used to own a home but cannot afford to buy one now
• you’re forming a new household - for example, after a relationship breakdown
• you’re an existing shared owner, and you want to move
• you own a home and want to move but cannot afford a new home that meets your needs
Quick check if you're eligible to buy a home through shared ownership
Peaks & Plains will ask you to complete an application form to confirm these details.
For some homes you may have to show that you live in, work in, or have a connection to the area where you want to buy the home.
We work with a financial advisor called Metro Finance, who will use an affordability calculator to work out the maximum share that you can purchase.
Please contact Metro Finance on 0114 270 1444 for your assessment, or you can input your details online.
Using the calculator ensures that we can offer you the maximum share you can afford, without overstretching you. This is a free service, and Metro will also be able to help you secure a Mortgage in Principle if you wish.
You will need to provide Metro Finance with the following documents either by email attachment or as a photocopy by post:
Once Peaks & Plains are happy that all information has been supplied and all criteria satisfied, you just need to pay the £500 reservation fee to secure the property.
Once you have paid the reservation fee, a reservation form will be sent to you to sign and return. This form confirms the sale details and terms & conditions of the reservation period, so check it thoroughly before signing. You also need to provide your solicitor’s details at this point.
We recommended you use a solicitors, who are familiar with the Shared Ownership sales process. This will help the sale progress as smoothly and quickly as possible.
Sales: Fran Worthington & Jess Alcock
Email: sales@peaksplains.org
Tel: 0800 012 1311
Download and complete the form and send it to sales@peaksplains.org
We build and sell our Shared Ownership homes through Chalk, our development arm. You can see what Shared Ownership homes are available on the Homes by Chalk website.