Affordable Homes

We work with a number of housing associations and the local authority in order to provide a range of shared ownership schemes and affordable housing options across the Isle of Wight.

Shared ownership or Help to Buy is a government backed initiative that allows many people to take steps towards becoming homeowners. By choosing to purchase a share of a property (usually at least 25% and up to a maximum of 75%), a subsidised rent is then payable on the remaining share, but the combined mortgage repayments and rent is less than if the full value of the property was purchased.

By purchasing a share, you are able to live in your home as if you owned it outright and are able to buy a larger share as and when you can afford to – the more that you own, the less rent you will pay. This is known as ‘Staircasing’ where you are able to buy further equity in your shared ownership home.

Schemes are provided by different housing associations and each has different eligibility criteria. Not all schemes offer 100% ownership and not all are open to everyone, which is why working with a reputable agency like Hose Rhodes Dickson is key, as we can help and advise you to make fully informed decisions.