FINANCING YOUR SHARED OWNERSHIP HOME

Affordability Examples.png
 
 

FLEXIBLE TO SUIT YOUR NEEDS

  1. You decide what % share you would like to buy in your home in the first instance.  You can choose anywhere between a 25% and 75% share
  2. You will need to finance the share that you are purchasing, either with cash savings or by taking out a mortgage.  If you are taking a mortgage to finance your share then you will typically need to allow for at least a 10% deposit (see the examples above).  The larger your deposit, the less your mortgage repayments will be
  3. Heylo will purchase the share that you don't own, and you then pay rent on that share to Heylo who will be your landlords.  Initial rent figures are 2.75%
  4. Any time after you have completed your purchase, you are able to increase the share that you own in the home (this is called staircasing) all the way up to 100%.  The more you own, the less you will pay in rent