This week sees the launch of the National Housing Federation’s (NHF) campaign to raise awareness and improve understanding of shared ownership as a way to get onto the property ladder.
It’s a campaign we’re proud to support, and over the coming months we’ll be working with the NHF and other housing associations to talk about the benefits of shared ownership and dispel some of the misconceptions that exist.
Through shared ownership, buyers can purchase a share of a property, and pay rent on the remaining share, with an option in most cases to increase the share you own up to 100% through a process known as ‘staircasing’.
The scheme can dramatically reduce the amount buyers are required to find for a deposit and a report published in November found that in some cases London renters could save more than £40,000 over two years if they were to opt instead for shared ownership.
Clarion has almost 8,000 shared ownership properties across the country, and before Christmas launched 284 new shared ownership homes in Colliers Wood, Southall, Battersea and Rainham, giving hundreds of Londoners who may not be able to afford to buy a property outright the chance to own their own home.
Tim Seward, Director of Sales for Clarion Housing Group, said: “As the UK’s largest provider of affordable housing, we have a major role in helping to fix the housing crisis and delivering homes for shared ownership is part of the solution, ensuring we are able to meet the wide range of housing needs.
“We’re proud to be supporting the NHF’s campaign to raise awareness and improve understanding of shared ownership and hope that more and more people will realise the benefits of the scheme, taking their first step onto the property ladder or moving on into a new home.”
To find out more about shared ownership and search for available properties near you, visit www.sharedownership.net.