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Shared Equity

Censeo work with specialist housing providers of shared equity schemes

These Include:

Home Reach (heylohousing.com)

Your Home (heylohousing.com)

Pocket: Affordable New Homes in London (pocketliving.com)

First Home

This Government scheme was launched in 2021. First Homes is a discounted market tenure and should account for at least 25% of all affordable housing units delivered by developers through planning obligations.

First Home is a specific kind of discount market sale housing scheme.

First home:

  • Must be discounted by a minimum of 30% of the value when sold
  • Are sold to those applicants that meet the First Homes eligibility criteria
  • Will have restriction registered on the title at HM Land Registry to ensure the discount (as a percentage of the initial market value when first sold) and certain other restrictions are passed on at each subsequent title transfer
  • after the discount has been applied, the first sale must be at a price no higher than £250,000 (or £420,000 in Greater London).

Eligibility criteria

  • A purchaser (or, if a joint purchase, all the purchasers) must be a first-time buyers – never own a property in the UK or abroad
  • Should not have a combined annual household income exceeding £80,000 (or £90,000 in London)
  • A purchaser should have a mortgage or home purchase plan (if required to comply with Islamic law) to fund a minimum of 50% of the discounted purchase price.

First Homes are designed to allow people to get on the housing ladder in their local area, and in particular to ensure that key workers providing essential services are able to buy homes in the areas where they work. Authorities can therefore prioritise key workers for First Homes, and are encouraged to do so, especially if they have an identified local need for certain professions. The definition of a key worker should be determined locally and could be any person who works in any profession that is considered essential for the functioning of a local area.

Local connections may include (but are not limited to) current residency, employment requirements, family connections or special circumstances, such as caring responsibilities. Any local eligibility criteria will apply for a maximum of 3 months from when a home is first marketed.

Armed Forces personnel are exempt from local connection criteria. Armed Forces personnel includes all active members of the Armed Forces, divorced/separated spouses or civil partners of current members of the Armed Forces, spouses or civil partners of a deceased member of the armed forces (if their death was wholly or partly caused by their service) and veterans within 5 years of leaving the armed forces.

Censeo Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading name of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. Censeo Limited is registered in England and Wales, company registration number 06453977, the Registered Address 11b Newton Court, Pendeford Business Park, Wolverhampton, WV9 5HB.

We will charge a broker fee of up to £495, payable 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.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

The Financial Conduct Authority does not regulate all Buy to Let mortgages.

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