What To Expect From The Buying Process
A Step On The Ladder With Shared Ownership
How to buy a shared ownership home
Follow the slides for a step by step guide to buying a shared ownership home with us ...
Choose your home from the selection on our website
2. To apply for one of our shared ownership homes you'll need to complete a short form
3. Let us know your preferred house type or plot!
4. Undergo a financial and affordability assessment through Metro Finance
5. Metro Finance will request documentation in support of your application. You can upload your documents digitally.
6. If you've been successful in your assessment Metro Finance will contact us to let us know
6. Once approved by Metro you're able to view our homes
7. Solicitors are instructed to carry out the legal work
8. Your mortgage lender will arrange a valuation of the property | The lender finalises the mortgage offer | We approve the mortgage offer
9. Arrange any necessary insurances
10. Exchange contracts, pay any deposits & agree a completion day!
12. Organise your move and any flooring required
13. Completion of your sale, home demonstration & handover of your keys!
- Your household income is no more than £80,000 per year.
- You don't own a home already.
- You may be in the process of selling a home, however to be able to buy a Shared Ownership home from us, you must have a buyer for your existing home and complete on the sale prior to completing your purchase with us.
Buying a new home with emh usually takes around 12 weeks
The following list covers the main stages you will go through when buying a new home from us ~
- Choose your home from the selection on our website
- Complete our application form
- Complete a financial qualification and affordability assessment through Metro Finance
- Submit supporting documents to Metro Finance
- We will confirm your offer to reserve a plot
- View your home (if built). If not yet built we will discuss with you the home you wish to purchase.
- You pay your reservation fee
- Instruct a solicitor to carry out the legal work
- Your mortgage lender will arrange a valuation of the property
- Finalise your mortgage offer with your lender
- We will need to approve your mortgage offer
- Arrange any necessary insurances
- Exchange contracts, pay any deposits and agree a completion day
- If you have a Help to Buy ISA now is the time to get the monies released ready for completion
- Organise your move, including removals and any flooring required
- Completion of your sale and handover of your keys