Your new home journey
Buying a new Shared Ownership home? Not sure what to expect? We’re here to help. Here’s a blog post with all the main bits (we’ve tried to keep it nice and simple for you).
1. Find your dream home
We offer lots of new properties across the south and south west of England. Use our website to find what’s for sale in your area.
When buying with Shared Ownership, you can choose a home that works for you (even the location, size and house type*). Register your interest in a home or development on our website, and we’ll be in touch to talk you through the next step.
2. Speak to a mortgage advisor
As exciting as buying a home is, we still have to do the paperwork. So, when we’ve got pricing for your chosen home, we’ll get you to speak to an Independent Mortgage Advisor (IMA). They’ll ask you some questions about your personal finances, and be able to work out what your monthly rent and mortgage costs will look like. They’ll even recommend what percentage share you should buy*.
3. We'll book in your offer call
Once you’ve had your financial assessment, one of our Sales Executives will book in an offer call with you. Drum roll… this is when you can secure your new home! We’ll also be able to answer your questions about the property, development or buying process.
Once your offer call’s done, we’ll mark your home as sold on our website.
Next, you’ll need to fill in a bit more paperwork. We’ll send you a link to ThirdFort, who will do ID and anti-money laundering checks for us. Then, you’ll need to pay the £500 reservation fee^, and send us your signed reservation form.
We’ll also ask you to choose a Solicitor (we’ll send you details for some experienced in Shared Ownership). They’ll support you with buying your home. Make sure to ask your Solicitor about their fees, so you can put this money aside.
4. Get the ball rolling
Once you’re done with the reservation process, you can speak to your IMA about applying for a mortgage. It’s also time to instruct the Solicitor you chose earlier.
These are really important, as having your Solicitor and mortgage lender lined up keep your sale moving smoothly.
5. Stay up to date
Most of our new homes are offered off-plan (this means it’s still being built). So, we’ll do our best to keep you updated with information as we get it. And we’ll try to predict your move-in date as best we can. But we’ll let you know if anything changes**.
Once your home is nearly ready, we’ll let you know that we’re ready to exchange contracts. You’ll be asked to pay the deposit for your new home to your Solicitor. The deposit is usually 5% of the share you’re buying* (but speak to your IMA if you’re not sure).
7. New Home Tour
The countdown is on! It’s nearly time to move into your new home.
We know you’ll want to look around (and measure up for those new curtains). So, we’ll book in a date for a tour of your home, as well as the official move-in day.
Your ‘New Home Tour’ happens before you get the keys. It’s your change to be shown around by one of our experts. They’ll run through how everything works, where your meters are, and answer any burning questions you have.
Struggling to make it? Let us know, we’ll be as flexible as we can.
8. Move-in day
It’s the big day. We’ll meet you at your new home, to hand you your keys.
And if you need anything at all, our Customer Care team are just at the end of the phone.
*Affordability and eligibility criteria apply: abrihomes.co.uk/terms. Please note, selected homes may require a local area connection. We will always display this clearly on property listings. Find out more at abrihomes.co.uk/help-advice/local-area-connections.
^Reservation will be subject to a satisfactory financial assessment. Completion dates are subject to change. Affordability and eligibility criteria apply. All figures are illustrative based upon buying a minimum share at each development. Purchase share values will be determined based upon applicant’s individual financial circumstances, in line with Homes England guidelines. Applicants will be referred to a nominated mortgage advisor for a financial assessment and will be expected to maximise the percentage of share they purchase. Credit is secured against your home. subject to status, Help to Buy terms and conditions are available on selected properties in England only. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH PAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT.
**Please note, all completion dates are for guidance only and subject to change.