Wandle : Helping more people into shared ownership
Wandle helps first time buyers who need a home. We build and manage quality housing and support communities so they can thrive. Founded in 1967 as the Merton Family Housing Trust, we have since grown into an organisation with over 7,000 homes across nine south London boroughs.
As a developing housing association, we’re helping to tackle the shortage of good quality affordable housing in the capital. Our development programme is providing hundreds of new homes both for the people most in need of housing, and those who would otherwise not be able to afford to own their own home.
WHAT IS SHARED OWNERSHIP?
Shared ownership is a part buy-part rent government funded scheme designed to help people on moderate incomes get on the property ladder.
The scheme is simple; you typically buy an affordable share of between 25% to 75% of the property’s full market and pay a subsidised rent on the remainder, with an option to purchase further shares later on.
WHAT COSTS CAN I EXPECT?
In addition to your rent and mortgage repayments you will pay a service charge. This will cover a variety of costs related to the management of the building, for example insurance, management fees, repairs, utilities, servicing and a contribution into a reserve fund that will be used to pay towards future major works and external redecorations.
WHO IS ELIGIBLE?
Shared ownership is for first-time buyers, tenants and other priority groups who want to become home owners. Priority groups include: first-time buyers, Ministry of Defence personnel, council or housing association tenants and local authority priority groups. We usually give priority to people who live or work in the borough where the property is located. However, anyone who meets the basic conditions may be able to buy a home. We consider all applications on merit. If you feel you have a good case, it’s well worth applying.
Supporting people, across South London, who need a home