Affording Your Dream Home
The new homes at Kings Meadow are available to buy in different ways:
- Purchase outright
- Purchase outright with the help of Help to Buy (equity loan)
- Purchase through shared ownership
Please note that Shared Ownership and Help to Buy cannot be used together.
The government’s Help to Buy Midlands Agent website has more information, including an online application form.
Remember, if you do not keep up payments on your mortgage, rent and/or service charges, you risk repossession and losing your home.
About Shared Ownership
Shared Ownership reduces the deposit and mortgage needed compared to buying in full.
You will pay a subsidised rent to Accord on the part you don’t own.
Shared ownership has been helping people on to the property ladder for almost 40 years.
Who is Shared Ownership for?
Shared Ownership helps to make a home more affordable by allowing people who qualify to purchase a share in the property, reducing the mortgage and deposit needed.
This can include:
• First time buyers – whether currently renting or living with family or friends.
• People who owned a home but have sold or are selling.
• Older home owners who want to buy a home more appropriate to their needs.
You have the option to increase the share size you own and have the option to buy the full 100% if and when you can and want to.
If you buy 100% we will transfer you the Freehold.
Households must also earn less than £80,000 to qualify and cannot own a home at the point of purchase. Contact Accord or the Help to Buy Agent to find out if you are likely to be eligible.
The percentage share you can purchase is based on what you can afford, this can be between 25% and 75% in the first instance.
The deposit required and mortgage term will depend on your circumstances and your mortgage lender. Contact us and we will help you find out what percentage is right for you.
About Help To Buy
Help to Buy is an equity loan provided by the government that reduces the deposit you need to buy a new home.
The equity loan is for up to 20% of the value of the purchase price. You add the equity loan to the deposit you have saved (minimum 5%) and together with a mortgage this covers the costs of buying your home.
Who is Help To Buy for?
The scheme is designed to help homemakers, not buy-to-let investors; so you will need to live in the property, not rent it out. You will not be eligible if you own or have financial interest in another property at the time you purchase through Help to Buy.
Accord has been building homes and communities for over 50 years. Kings Meadow is created from Accord’s holistic approach to developing new homes in places people want to live – designed internally by architects at InDesign, built by Accord’s construction company LoCaL Homes using modern low carbon construction methods, and sold in-house. Accord is committed to delivering high quality homes and communities. We will help ensure the green open spaces at Kings Meadow are well managed for years to come.
Call us on 0121 500 2320 or use the form to send us a message.
Show home open soon
The site is an active construction site and not yet open to visitors, so please arrange a visit. Please contact us to find out when and how you can visit.