Our Customer Service Team are here to help. 

Talk to us by calling: 

 0333 012 4307

Calls are free from landlines and mobile ONLY if you have a free calls package. Otherwise they will be charged at a local rate. 

Women's Refuge
07866 556398

How does it work?

The prospective homeowner finds a suitable property. The housing provider purchases the property on their behalf, and sells part (usually 25-75%) to the homeowner.

Advance purchases the property using a combination of:

  • Grant or family funding;
  • A contribution from Advance; and
  • Money from the buyer to cover their share.

The buyer generally needs to take out a mortgage to raise the money to pay for their share, an option made possible by participation in the scheme.

They can gradually buy more of the property, and eventually own their home outright. This is known as ‘staircasing’.

The homeowner pays rent to the housing provider on the part they have not bought. They also pay a service charge to the housing provider, who acts as the ‘landlord’ and is responsible for essential repairs and general maintenance on the property.

The interest payments on the buyer’s mortgage, the rent and the service charge may be met by eligible benefits.

To find out more, please get in touch with us. Fill in our form or call 0333 012 4307.

Shared Ownership Enquiry

Do you or the person you are applying on behalf of have a long term disability?

Are you over 18?

Are you on one or more of the following benefits - Income support, ESA, Incapacity Benefit or Universal Credit?

Are you in receipt of DLA/PIP?

Do you have access to approx £15,000.00 (£10,000.00 for deposit plus legal fees etc) to go forward with this scheme? This should be available funds and not an additional loan as the scheme requires a mortgage.

Are you registered with the Local Authority and the Help to Buy Agent? This is a requirement for the scheme but not essential at the point of application.

Back | TopPage last updated: 18/08/2016

Advance is the trading name of Advance Housing and Support Ltd. Registered Office: 2, Witan Way, Witney, Oxon, OX28 6FH.
Advance Housing and Support Limited is a registered society under the Co-operative and Community Benefit Societies Act 2014. Reg No. 21143R
Advance is registered with the Homes and Communities Agency no. LH0280 VAT Registration no: 257 1576 85

Copyright Advance © 2017 Content Disclaimer | Privacy & Cookie Statement Print this page