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Schemes Explained

  • Shared Ownership - Brand New Homes

    Shared Ownership means you buy a share in a property, say 50%, and pay a rent and service charge on the share you don't own. Because the rent is reduced and the mortgage you need is smaller, it's cheaper than buying it outright.


    In most cases, you've got the option to buy more shares in the future, so you could eventually own 100% of your home.


    We build and sell homes, so you will be buying your property under a Shared Ownership lease which will explain all your responsibilities, and those of Riverside Home Ownership. As part of our assessment process, we will specify what share you are able to purchase. The shares available and monthly rents are shown on each development's page here on our website.


    Take a look at our Buying Guide for more detailed information.


    To apply for any of our new Shared Ownership homes, you must first complete an application with the local 'Help to Buy' Agent. The local Help to Buy Agent will carry out a 'headline assessment' to make sure you meet the general criteria for Shared Ownership, and then pass your details to us. Find out who we can help to see if you're eligible. 


    Once your application is with us, you will then deal with Riverside Home Ownership directly - we will carry out a more detailed assessment, including looking at your financial circumstances, before you're ready to proceed.


    You should make sure that your solicitor explains the details of the Shared Ownership lease to you, but you can always drop us a line if you have any questions.

  • Shared Ownership Resales

    As well as brand new homes, we are also involved in the sale when a resident of one of our Shared Ownership homes decides to move on.


    You buy their share from them, and pay rent and service charge to Riverside Home Ownership in the same way as if you bought a new property from us. Purchasers must meet the same eligibility criteria as buying a brand new home. 


    Take a look at our Buying Guide for more detailed information.

  • Older Persons Shared Ownership

    Older Persons Shared Ownership (OPSO) works in pretty much the same way as general Shared Ownership, however you must be aged 55 or over to apply for a home that is available through the scheme. 


    The maximum share you can own in an OPSO property is usually restricted to 75%. When you own a 75% share, there is usually no rent to pay on the final 25% share that Riverside still owns.

  • Leasehold Scheme for the Elderly (LSE)

    LSE allows people aged 55 and over to purchase a property at 70% of the open market value.  This has been made possible because Riverside Home Ownership received a government grant to help meet some of the costs of building the property. 


    The maximum equity you will ever be able to own is 70%.  The remaining 30% is a 'discount' that is permanently locked into the property.  This means that you will never be able to own 100% equity in your home.  Likewise, Riverside Home Ownership will never be able to sell this 30%. 


    By retaining this 30% discount means that affordable retirement property will remain available for generations to come.

  • 100% Leasehold Homes

    We are the leasehold managers of many homes that are owned outright and provide a range of services to these properties.


    You may see these homes on the market with an estate agent, and they can be bought and sold in much the same way as any other leasehold property.


    As the management company and/or freeholder, we are involved when these properties are sold to ensure all the conditions of the lease are met.

  • Great Value Rent

    If buying isn't right for you, some of our homes are available for straight forward rent.


    These homes are for 'market rent', at a similar price to a private landlord, but with great services provided by Riverside Home Ownership.


    You might also want to see how you can find a rented home from Riverside - visit www.riverside.org.uk

  • Help to Buy

    Help to Buy is the umbrella name for the range of government-backed initiatives designed to help buyers purchase a home, in a way they can afford.


    You can find out more about the Help to Buy options at www.helptobuy.org.uk.

  • Own Place

    Riverside has properties available to buy with a discount of 25% off the open market value. 


    These are older homes we have redeveloped, ready for you to add your own touch. Read more on the Own Place website...


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We are proud to say that we are part of one of the leading registered providers of social housing in the UK, providing support and affordable housing to people of all ages and circumstances throughout the country.