I think I can afford the cost of shared ownership but I haven’t got £3000.00 in savings. Does this mean I won’t be eligible?
The process of purchasing a home is expensive. Feedback from our customers indicates that the figure of £3000.00 is a conservative estimate to cover costs such as legal fees, mortgage valuation, and survey and stamp duty. You are welcome to apply.
I have applied for affordable home ownership with Newlon. Can you tell me how long I will have to wait for a home?
Availability varies from one area to another and is subject to various conditions. The information sheets (sent out with application packs) provide an indication of the areas in which we are operating. Our database of applicants is not a waiting list, however, we will contact you when we are able to match availability with your requirements and affordability range. Please call us and discuss the options within your area if you wish to.
I used to own a home with my previous partner, from whom I am now separated. For this reason, I am not, strictly speaking, a first time buyer. Can I still apply?
Yes. Where your housing need circumstances are as a result of a relationship breakdown, we will consider your application in the same way as a first time buyer. Please include full details on your application of any monies you expect to receive from the sale of any property. Other circumstances such as overcrowding or a job location move are also considered in this way.
If you visit a reputable bank, building society or independent financial advisor, you will be able to make an appointment with someone who can explain this in detail to you. They will also be able to advise you on the costs that are likely to be involved. Visit our Financial Partners page on the website.
Newlon is a not for profit charitable housing association and we borrow money to fund new developments as well as receiving some grant funding from the government, which is administered by the Greater London Authority.
Applicants who become shared owners can purchase additional shares in their home as their income increases.
Can I purchase the house that I am currently renting? Is Newlon interested in buying half of my property?
No. The conditions we have to abide by prevent us from doing this.
Gross household income must not exceed £90,000 per annum.
I have read through Newlon’s application form and I don’t understand all the questions. Can someone help me?
Yes, of course. Call us on 0800 058 2544 and we will do our best to help you. Our sales team are available Mondays to Fridays from 9:00 am to 5:00 pm.