Mount Green is a Housing Association based in Leatherhead who offers affordable homes for rent and shared ownership in Surrey. Mount Green, who has recently celebrated its 50th anniversary, has a range of homes from properties in pretty rural areas as well as more traditional homes and modern apartments.
Mount Green aims to build affordable housing for local communities. Their ethos is to supply homes suitable for young people, families and sheltered accommodation homes, which allow peace of mind to the elderly and their families.
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A popular scheme Mount Green provides is Shared Ownership* which helps purchasers such as first time buyers to get on the housing ladder. Shared Ownership enables you to purchase a share in a new home that you can afford. Initial shares must range between 25 to 75% of the full market value of the property, and a subsidised rent is then paid on the unsold share.
There is also the opportunity to purchase additional shares in your property and eventually own the property outright if you wish to do so. This process is called staircasing. There are strict criteria which you must comply with in order to take advantage of the scheme – your income should be less than £60,000, you should be unable to purchase a home suitable for your needs without assistance, you cannot be named on the deeds of a property or be a current home owner and you must not have any outstanding credit issues.
Mount Green also work closely with Local Authorities who are keen to see shared ownership properties prioritised to purchasers living or working in the borough. They also need to ensure that the home suits the applicant – a family will be given priority to a house over an individual for example.
Speaking to Julia Collyer on behalf of Mount Green, I found out why she enjoys her job so much – “Affordable housing is always changing with new rules and regulations from the government. Providing a service and homes for people on low incomes and helping first time buyers get on the housing ladder is very satisfying.”
Goodfellows is working with Mount Green to sell their shared ownership properties where their current owners are moving on and up the ladder. Goodfellows are involved with a number of Shared Ownership properties and can introduce potential buyers to an advisor from Embrace Mortgage Services to help them decide whether they meet the strict affordability criteria. As Julia stresses, purchasers need to make sure they can realistically afford the property they are interested in.
To find out more information about Shared Ownership have a look at the Help to Buy website for the South East. www.helptobuyese.org.uk
*For shared ownership mortgages the overall cost for comparison is 4.41% APR the actual rate will depend upon your circumstances. Ask for a personalised illustration.
LSLi Ltd t/a Embrace Mortgage Services charge a fee of between £399 and £699 on application. The amount we will charge is dependent on the amount of research and administration that is required. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Goodfellows is a trading name of GFEA Limited and is an introducer appointed representative of First Complete Ltd for purpose of the provision of advice in relation to mortgage and non investment insurance products. Mortgage and Protection advice is provided by LSLi Ltd t/a Embrace Mortgage Services, an appointed representative of First Complete Ltd. General Insurance advice is provided by First Complete Ltd trading as Goodfellows insurance services. First Complete Ltd is authorised and regulated by the Financial Conduct Authority. First Complete Ltd & LSLi Ltd are not responsible for estate agency services. Estate agent services are not regulated by the Financial Conduct Authority. LSLi Ltd t/a Embrace Mortgage Services are not responsible for any advice you receive from Goodfellows Insurance Services.*