Share to Buy Webinar: Your Questions Answered

Over 200 viewers tuned in to the ‘Summer of Opportunity: Why now is the time to buy’ – a webinar we hosted in partnership with Share to Buy on Monday 5th July.

Bringing together professionals from every aspect of the property market, Markus Kendall-Young and Steve Pickering from Catalyst were joined by experts from Focus on Media, Meridian Mortgage and New Homes Law.

The webinar covered everything from the latest first-time buyer trends in London, to the ins-and-outs of the legal process in the home buying journey. Catch up on the webinar: click here

Below we’ve answered some of the top questions which came up in the webinar Q&A.

Some Shared Ownership properties require a minimum income. If I don’t meet the minimum but I have a good size deposit, will this be considered in my application?
We would always suggest talking to a mortgage advisor in the first instance, as they will be able to advise on exactly what you can afford based on your deposit and income. It may well be that with a higher deposit, you don’t need as high an income to afford the mortgage and rent on your Shared Ownership home. Our sales team can help you understand what options are available to you, possibly directing you to developments where you do meet the affordability criteria.

At what point is it recommended to get mortgage approval?
It’s always helpful to speak to a mortgage advisor and receive a Mortgage in Principle before you start your home hunt. A Mortgage in Principle is a statement from a Lender of what they could, ‘in principle’, lend to you on your home. This gives a clear indication of what you can afford, so you aren’t looking at properties which are way above, or below, what you can afford. However, if you would rather see what’s out there first, our Sales teams are always happy to help put you in touch with a mortgage advisor once you’ve decided on your dream home.

How easy is it to make changes in shared ownership properties? Do you need to ask permission?
Your Shared Ownership home is yours, so cosmetic changes like painting the walls, putting up shelves and hanging pictures are all absolutely fine! The only time we request special permission is if residents are making more significant, structural changes to the home, where it could impact the value of the property. As joint owners, we have a vested interest in ensuring the property retains its value. For instance, should an owner like to extend their home, then they would need to seek permission first.

What’s the policy on dogs being allowed to live with you?
We have lots of developments which are pet friendly, however the pet policy can vary between developments so it is always best to talk to the relevant on-site sales team. The type of home you are buying and the access to outdoor space are all factored into the specific pet policy, which will be outlined in your lease. Should you wish to keep a pet, you must request permission first.

Do you have any properties out of London?
Yes we have developments right across the South-East, spanning Bedfordshire, Hertfordshire, Buckinghamshire and Oxfordshire, whilst of course delivering a large number of homes in the capital too. Our range of developments consist of apartments through to family houses, so no matter where you are in your property journey, we have a home you’ll love.

Ready to start your search? Click here to see our full range of developments.