Homes are sold as leasehold properties on shared ownership terms with the lease being retained by a housing association. The properties can be apartments or houses.

 

The minimum share you can normally purchase is 25%, and 75% is usually the maximum. You will need to be able to raise a mortgage for the share you want to purchase, and you will pay a rent on the share the housing association owns. Rents are calculated to be affordable.

 

As the property becomes more affordable, you can buy additional shares until you own 100%. This is known as 'staircasing'. When you want to sell the property you can sell the share you own to another household nominated by the housing association or you can staircase to 100% and sell it in the normal fashion.

 

However, the housing association who owns the remaining share may want to buy the property back from you to offer to other households who need low cost home ownership. They will tell you if they want to do this when you tell them that you want to sell. The property is sold at market value and you will benefit from any equity which has built up on the share that you own.

 

 

Existing social housing tenants or those on Harrogate Borough Council's housing register and in housing need. Priority is normally given to people with a local connection to the sub area in which the home is situated. Please see details of individual schemes for specific selection criteria.

 

 

If you are not on Harrogate Borough Council's housing register, you will need to complete a housing application form. You will also need to apply to my4walls Agent for North Yorkshire, on tel no 0113 2436893  or visit their website: