New Build / Help to Buy / Shared Ownership
New build purchases involve increased paperwork relating to the development as a whole and in particular include agreements between developers and the local authority making provision for affordable housing and local amenities. There can be service charges to a management company even in the case of freehold properties and we will report to you with a full breakdown of what you will be buying into.
Many first time buyers of new builds will be using Help to Buy Equity Loans and Help to Buy ISA’s, both of which we are fully versed in dealing with and will take care of for you.
Furthermore, many first time buyers these days will be buying shared ownership of property, where part of the equity remains in the ownership of the housing association or management company involved and rented back to the buyer. There is usually the option to ‘staircase’ in stages as you can afford to, buying further shares in the property from the housing association until you own 100% of the property. We can assist at each stage of the transaction.
One of our experts in our property department will be glad to help