Before you can apply to buy a shared ownership home with Severn Homes, you will need to undertake an initial financial assessment with a financial advisor. This step is necessary for those buying with cash and those who need a mortgage. We work closely with The Mortgage People who will help you complete the no-obligation initial financial assessment which, results in them producing a completed Homes England Affordability Calculator for you. This will provides an initial indicator of the maximum share percentage you should be buying and ensures that you can afford the ongoing costs, such as the rent and service charges.
The Mortgage People will let us know the outcome of your Homes England Affordability Calculator, which will be based on the value of your chosen property. A member of our sales team will contact you to confirm the outcome of the assessment and provide you with a link to the Homes Plus Shared Ownership application form. You will need to complete and return this to us with the additional documentation detailed in step 5.