Conveyancing — Buying and Selling Residential Property
Shared Ownership — a guide
Priority is given to key workers, existing council/ housing association tenants and those registered for housing with the council. Most shared owners are first time buyers. The size of the share purchased is usually 50% although smaller or larger shares may be available. Shared owners pay a monthly rent to the Housing Association for the share they were unable to purchase.
In addition, there will normally be a service charge to cover items such as buildings insurance, management and cleaning of any common areas.
Examples of key workers are:
• Clinical National Health Service (NHS) staff (with the exception of doctors and dentists)
• Teachers and nursery nurses in schools and further education/sixth form colleges
• Police officers, Community Support Officers (CSO) and some civilian police staff
• Prison officers and some other staff
• Probation Service staff
• Social workers, nursery nurses, educational psychologists, and therapists (e.g. occupational therapists) employed by local authorities, Children and Family Court Advisory and Support Service (CAFCASS) or the NHS
• Local Authority Planners and Environment Health Practitioners
• Firefighters and other uniformed staff below principal level in Fire and Rescue Services
• Connexions Personal Advisors employed by a local authority or a Connexions Partnership
• Ministry of Defence (certain personnel)
• Highways Agency Traffic Officer staff in safety critical roles within the Traffic Officer Service.
For detailed information about Shared Ownership Schemes contact a local Housing Association. In the Bromley area these are:
• Broomleigh Housing Association
• Hyde Housing Association
• Kelsey Housing Association
• Penge Churches Housing Association Ltd
• Keniston Housing
• Tower Homes Ltd
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