Astraliving FAQ's
Please click on any of the headings for further information.
- Who does the repairs on shared ownership properties?
- How can I get a mortgage on my shared ownership home?
- What kind of property can be bought through shared ownership?
- Age Restrictions
Who does the repairs on shared ownership properties?
The shared ownership lease between you and the housing association will set out your rights and responsibilities as a shared owner. Although you have not bought the property outright, you will have the normal rights and responsibilities of a full owner-occupier. In particular, you will normally be fully responsible for the cost of repair and maintenance to your home. Please see our residents’ information for further information.
How can I get a mortgage on my shared ownership home?Please find a list of potential mortgage providers for shared ownership housing. These companies may be able to help you find a mortgage.
Abbey
Alliance & Leicester
Halifax
Nationwide
What kind of property can be bought through shared ownership?
Shared ownership homes may be new or renovated flats or houses. Prices vary according to location but are expected to be within the means of those people who cannot afford the prices of properties available for sale in the open market.
House prices can go up or down and a shared ownership property will be affected like house prices are on the open market. If the value of your property increases, you may pay more for buying additional shares.
When you purchase a share in a property, Astraliving will grant you a lease, which sets out your rights and responsibilities.
Leasehold Retirement Schemes
For our retirement schemes applicants should normally be 55 years or over (although some leases stipulate 60 as a minimum). In the case of couples one must have reached the minimum age.
Shared Ownership Schemes
Applicants must be at least 18 years of age – can be singles, couples or families.
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