A select number of units at Portobello Square are available under the shared ownership scheme. This scheme offers a low cost way for first-time buyers to get on the property ladder by making a home purchase more affordable. It is a part-buy/ part-rent scheme which allows you to buy a share of a new build property and pay a subsidised rent on the rest. You will have the option to purchase only 25% of the full value of the property. The combined monthly cost of your rent and your mortgage will usually be substantially less than buying the property outright.
After the first 12 months you will have the option of buying more shares (known as staircasing) in multiples of 10%. A new valuation will be required from a qualified RICS valuer at the time of sale. As the tenant, you will have to pay for the valuation fee and any updates as necessary. This figure will then determine the price of the share you wish to purchase. You are free to increase your share percent to 100% after the first 12 months.
Catalyst will give priority to:
If you do not fit into one of these priority groups, you can still apply.
For more information, contact Dalbir Jangra on 0300 456 2099.