Make an application
Now you've found the property you want, you need to make an application. If you're buying a Shared Ownership resale home, property at Tamar Court or applying for one of our Rent to Buy properties, go to the bottom of the page, but if you're buying one of our other Shared Ownership properties start here.
Shared Ownership Application for a new build home
Now you've found the property you want, just follow the below steps to make a formal application.
1. Read our Guide to Shared Ownership
Our 'Guide to Shared Ownership' helps you fully understand how the scheme works and how we can help you onto the property ladder.
2. Make your application by completing your financial assessment
Next, you'll need to make your formal application, you do this by completing your financial assessment. This process informs us which property you want to buy and shows that you are in a financial position to buy it. You will need to go through this process even if you don't need a mortgage or if you already have one.
The financial assessment is completed by our advisors TMP, also known as 'The Mortgage People'. You will need to submit various documents to them and complete the sub steps below.
- First, you'll need to obtain a Mortgage Agreement in Principle (AIP). The AIP says how much money you can borrow. You can get this from your chosen mortgage lender or mortgage advisor. You might want to consider organisations that specialise in shared ownership mortgages such as TMP, although we wish to be clear that we are not recommending this or any other company.
- You then need to complete your assessment online by visiting TMP's website.
- TMP will review your information and contact you to discuss or request additional documents.
- When the assessment is complete TMP will send both you and us a copy of the financial assessment and all other relevant documents.
3. We'll process the applications
When the financial assessments are in they will then be processed on a first come first served basis, although any applications from military personnel will be given priority. When the successful applicant is found we will then contact you with the outcome and if you are the successful candidate we'll guide you through the next steps, which will include viewing the property.
Resale Shared Ownership application (including Tamar Court).
SO Resi, a specialist Shared Ownership resale service will assist you with applying for our Shared Ownership Resale homes. If you are in a proceedable position (i.e., have nothing to sell or have accepted an offer on your property from another proceedable buyer) and are interested in purchasing a resale home or apartment at Tamar Court, you will need to:
1. Read our guide to shared ownership
Our 'guide to shared ownership' helps you fully understand how the scheme works and how we can help you onto the property ladder.
2. Create a profile with SO Resi
You must create a profile and complete an application form with SO Resi. This allows SO Resi to confirm your eligibility for Shared Ownership, as well as registering your details.
3. SO Resi will process your application
Once SO Resi have reviewed your application form, they will be able to confirm that you are eligible for Shared Ownership. This typically takes around 7 working days. If there are any problems with your application, they will be in touch.
Rent to Buy
1. Complete the pre-qualification form
Once Rent to Buy properties are available you must complete the pre-qualification form which can be found here. Applications will be assessed on a first come, first served basis. You must be 18+ years old and a first-time buyer to eligible to apply for a Rent to Buy home. You can find more information about Rent to Buy here.
2. Assessment checks
Once the application process closes, we'll reach out to successful applicants from the pre-qualification form and request additional information including:
- A Right to Rent check and fraud prevention checks to confirm that you have a legal right to rent a property in the UK.
- Valid proof of your current address and photographic ID.
- An employment reference and confirmation of your monthly household income.
- Credit referencing to confirm that you have an adequate credit score to obtain a mortgage during the five-year period to purchase the property. We will be unable to proceed if applicants have been subject to any Bankruptcy or County Court Judgements (CCJs) issued within the last three years.
- A reference from their current landlord or letting agency (if applicable).
3. Getting ready to move
If you pass the assessment checks, we'll then issue you with an assured shorthold tenancy on a fixed term of five years.
4. Security deposit
A security deposit will be payable prior to moving in, which is calculated at five weeks’ rent, including any service charge. The deposit will be held in a protected Tenants Deposit Scheme to which the applicant will be given all details.
5. Pay your rent
Following the deposit, you'll be asked to pay your first months rent and service charges.
6. Moving in
On move in day, we'll give your your keys, Welcome Pack, and you'll have access to your new home.