meets the needs of your family. There are a few exceptions on purchase price limits which will be explained to you when you apply. What are the costs? You should ensure that you can meet all the initial costs of purchasing a home which may include legal transactions such as stamp duty, moving costs and your mortgage deposit. Youâ€™ll also pay an interest charge on the equity loan of 0.75%. This interest charge will rise with inflation.
How do I sell my home in the future? You can sell your home at any time after the first 12 months of ownership. At this stage your loan must be repaid based on the percentage you borrowed and your final selling price. How do I apply? Firstly you will need to register with South West Homes. Then call Sovereign Living on 0845 602 1618 and theyâ€™ll talk you through the process.
Published on Aug 30, 2013