Generally, applicants will require a minimum 5% mortgage deposit of the share they wish to purchase however it is important that you speak to an Independent Financial Advisor since this can vary depending on your current circumstances and mortgage lender requirements.

Shared Ownership prices are non-negotiable and will therefore be sold for the price advertised.

We always encourage applicants to maximise on their affordability. On this basis, purchasing a larger share than the share advertised is permitted up to a maximum 75% initially as long as it’s affordable and you still meet shared ownership affordability (and mortgage lender affordability).

You can still apply for a shared ownership property if you are a current homeowner and your home is sold subject to contract - you will need to provide evidence of this. Sales must complete simultaneously if your existing home has not completed prior to the sale of your new purchase as you cannot own two homes at once as per shared ownership guidelines.

All Shared Ownership applicants must meet shared ownership affordability as per Homes England government requirements. This affordability check must be carried out irrespective of being in receipt of a mortgage decision in principle. This check helps to determine the maximum share affordable. The shared ownership affordability check does not consist of any credit check and will not affect your credit score.

Yes, you can use your own mortgage broker or go to a lender directly for your mortgage. For your initial affordability assessment however, we will require you to speak to an independent mortgage broker firm we work closely with. They are also experienced in Shared ownership mortgages although you are not obligated to use their services when it’s time to apply for a mortgage.

This is not common however if it occurs for any reason, the sale price will remain the same so it will be best to seek advice from your mortgage broker/lender regarding your options.

Whilst you are a shared owner the property will be sold on a leasehold basis. If the property is a house and you staircase to 100% ownership, the lease term will fall away as the property will then become freehold. Apartments/flats will always remain as leasehold properties.

All new shared ownership homes are offered on a 990 year lease.

We allocate our shared ownership homes based on certain factors i.e financial affordability, applicants with a local connection to the area where the property is situated, Council/Housing association tenants on a secured tenancy, MOD personnel. This can differ from one development to another.

We have a panel of recommended solicitors however you are not obligated to use them and are free to find your own solicitor should you wish too. Shared ownership is a specialist product which is why we will be happy to provide a panel of recommended solicitors due to their extensive experience in Shared ownership conveyancing.

These solicitors act independently and are not directly affiliated with Thrive in anyway. We always ask that you do your own due diligence on the solicitor you decide to use and check their review ratings via trust pilot.

As per the terms outlined on the reservation form, if you need to withdraw after the sale has been instructed the reservation fee will be non-refundable. If your mortgage is unable to proceed for reasons out of your control, we will provide a partial (50%) refund of your reservation fee. Please note that if your mortgage fails due to you failing to disclose information the reservation fee will be non-refundable.

Thrive will not be liable for any costs incurred if you decided to withdraw from the sale at any point prior to the sale exchanging/completing. It is important to consider all related costs before proceeding to purchase a property.

This is extremely rare. In the very unlikely event that it occurs it may be due to the lender running a refreshed credit check for which adverse credit has been identified. It will be your responsibility to ensure your credit is not adversely affected during the buying process.

If the property is not yet build complete at the time of reservation, you will be expected to work towards exchange of contracts within the set timeframe and completion would then be on notice. This means that once the properties are build complete and handed over to Thrive Homes we will in turn notify solicitors and you will then be required to complete within 2 weeks from receiving this notice.

On the agreed day of completion it is important to note that the time of completion cannot be predicted as it depends purely on banking systems and when completion funds land into our solicitors account on the day. It will typically take place at some point during the working day between 9am-5pm. Once Thrive solicitors notify us, we in turn notify our sales agents who will then call you to arrange a time to carry out the key handover with you.

It is never advisable to give notice on your current rental property until the sale of the property you are buying has reached the point of exchange of contracts with a confirmed completion date agreed by all parties. You should always seek solicitor advice before handing in notice on a rental property and consider the likelihood of a possible crossover and any financial implications.

Below is a list of costs to consider when purchasing a Shared Ownership property although this list is not exhaustive:

• Reservation Fee
• Mortgage/IFA fees
• Solicitor fees
• Moving costs
• Stamp-duty (always seek advice from your solicitor as we are unable to give stamp duty advice)

Please remember - You should only proceed to purchase a property if it is financially viable for you.

The rent and service charges are reviewed annually and are subject to annual increases.

Due to the fact the property is new and will have undergone numerous inspections and checks we are not obliged to accommodate independent company snagging inspections. New build properties undergo numerous rigorous checks prior to being handed over. Thrive Homes also have the opportunity to inspect the property prior to us agreeing to accept handover of the properties from the developer. At these inspections, we do not expect to find any major defects however as the building is effectively man-made, it is not entirely unusual for minor defects to be picked up on occasion. You will also have a 12-month defect warranty period that begins from the date the property is handed over to Thrive during which time you can report any further defects you may have noticed. This process will be explained during your home demonstration. If you choose to proceed with an application you would be doing so on the basis of the above.

You are permitted to carry out decorations to the property i.e painting, hanging up shelves etc although we recommend you allow your new property to settle for least one full year before carrying out such decorations.

For any alterations, requests must be put in writing to Thrive for review before a decision will be provided. Please note that request which are submitted after sales completion will be subject to an administrative fee.

NHBC

Please register your interest. Thrive Homes will be in touch with a launch date for prices and further information at the end of October 2023 when homes will be available to reserve.

Yes, laminate, carpet & tiling finishes will be provided. Please check the brochure for further details.

Properties are sold as advertised. The specification is part of the build contract and cannot be changed as materials have already been sourced. Note there can be some material changes that differ from the specification and images within the brochure.

For houses, yes the freehold will be transferred to you at the point of 100% staircasing/ownership. For flats, at 100% ownership, the leasehold title remains in your name but your shared ownership obligations will fall away.