This is a question that people have been asking for months, so it is hardly news that over half of all first time buyers and key workers don’t know what shared ownership schemes are all about.
A survey carried out proves that the Government’s affordable housing schemes are still an enigma to many, especially to those who would actually benefit from them.

It is thought, following the survey, that around 48% of key workers and first times buyers have either not heard of shared ownership or did not know that they qualified for them

13% of people in these groups were convinced that they would not qualify for such shared ownership or shared equity schemes.

The fact is that around 97% of first time buyers would and do qualify for shared ownership schemes, as most are not earning over the £60k threshold. In light of this, calls are being made for better marketing and promotion of such schemes.

It is also clear from the research that many felt that the schemes were not attractive and would probably mean sacrificing some sort of quality of life.

A major client director of propertyfinder.com has said that there is clear widespread ignorance amongst the Government’s target audience and that many who do qualify are confused by what is available and how they work.

Another amazing statistic is that 1 in 4 who are earning less than £30,000 has never even heard of the affordable housing schemes, so a huge effort is call for by the Government to publicise these schemes.

It is evident that the Government is doing a lot to help first time buyers, but more promotion and awareness needs to be given to these schemes.

If you are in any doubt about shared ownership, then speak to us at Click n go Mortgages and get the advice that you need to get onto the property ladder.

If you were wondering what a shared ownership property looked like, this this (very short) video should give you an idea. Blink and it is over though…

We are often asked about shared ownership properties and what they look like. People are often confused about where they can find them too, which is why the Government and housing associations are ploughing a lot of money into the promotion and marketing of shared ownership.

If you want to know more about shared ownership properties then contact Click n go Mortgages, who will talk you through everything that you want to know about part buying and part renting your property.

The ‘credit crunch’ seems to be all that we read about these days, so it wasn’t going to be long before someone decided to cash in on the term created to describe the penny counting and tighter lending that we are seeing.

If the credit crunch is affecting you and you are finding meeting your mortgage repayments hard to swallow, then talk to Click n go Mortgages about your mortgages and the various mortgage options available to you.

The over 60s are keeping their feet firmly on the property ladder with sheltered shared ownership housing schemes.The Notting Hill Housing Association home ownership scheme for older people is giving over 60s the chance to own their own home for as little as £50,000.

Home Ownership for Older People (HOOP) scheme is offering one and two bedroom flats and bungalows at three locations in the London borough of Ealing. The shared ownership schemes are ideal for the over 60s that need to downsize but would still like the security of their own home.

Couples over 60 or individuals can pay as little as 25% of the property value and pay rent on the remaining 75% and relax knowing that they own their own home and that it is affordable.

The rent paid on the remaining share is minimal and each of the shared ownership developments benefit from a 24 hour emergency call system, ensuring that all who require care or assistance have it on hand.

These shared ownership schemes mean that people over 60 can live in and own homes that they can realistically afford and increase their share in the property over time.

The Notting Hill Housing Association is really behind the scheme and helping those over 60 who are keen to downsize to free up some money but still stay on the property ladder.

The shared ownership scheme gives older owners more choice, security and a significant nest egg to leave their dependants.

The difference between this shared ownership scheme and other New Build Homebuy schemes is that the share that you buy has to be bought out-right without a mortgage and that the maximum share that you can buy is between 70-75%. All is dependent on the development and once the percentage is reached no more rent is paid.

The Housing Association will retain 25% of the property in order to keep it as a shared ownership scheme and enable them to pass it onto to other older people looking for affordable housing.

The HOOP scheme is ideal for those who have paid off their mortgage and need to downsize and want to release a sizeable cash lump sum now.

A one bedroom flat at one development in Sunnymead Court, Ealing would usually cost £205,000. A 25% share in the property costs £51,250, which is bought outright and then £172 is paid in rent on the remaining share.

Shared ownership schemes have been championed by first time buyers, but now Councils are opening them up and seeing the need to make sure that older people are given the same life line and advantages in their retirement.

If you would like to know more about shared ownership schemes for you, a friend or a relative, then contact Click n go Mortgages, and we will search the market for the best shared ownership deal.

The Housing Corporation have told the junior housing minister that the total value of unsold empty properties could be as much as £1bn.

Iain Wright, the junior housing minister, was told in a recent meeting that the value of shared ownership properties had risen by % since March.

The chief exec of the Housing Association, Steve Douglas, has admitted that they have been looking at the options to resolving the problem of unsold stock, but that they were yet to conclude the study.

The downturn of the market has meant that many housing associations have reduced developments but the Government is still relying on the housing association sector to continue providing and building new homes.

The housing associations in much of London have told the Government that unless changes were made to their funding, targets were likely not to be met. This news comes out as housing association Genesis is said to be in trouble financially, although the Government have denied this.

Genesis have £158 million worth of shared ownership housing on their books and need to get people into them quickly.

If you are interested in finding your own shared ownership property, then contact Click n Go Mortgages for advise on your mortgage options.