Discounted Equity is a scheme where a fixed percentage of a property is purchased (set by Rosa Homes). There is no rent payable on the remainder of the share. The share is retained by Rosa Homes in perpetuity. A service charge will be payable. Also known as Fixed Equity Sale, these homes are developed by the Chevin Housing Group and in partnership with Private Developers. Most have between 1 and 4 bedrooms. Prices vary according to location. The scheme is intended for people who cannot afford to buy a suitable home in any other way. Purchasers are usually first time buyers with priority given to local authority or housing association tenants and those on waiting lists. Rosa Homes will also consider applicants who are having to sell their present properties due to a reduction in their income or relationship difficulties.
Purchasers must be able to obtain a mortgage through a Bank or Building Society to meet their purchase cost.
If you would like to own your own home, but cannot afford to purchase outright on the open market, Discount Equity/Fixed Equity Sales could be the answer. Discounted Equity/Fixed Equity Sales allow you to purchase a share of a house or flat and pay and/or rent/service charge for the remainder (dependent upon the scheme).
Applications are assessed, priority is given to first time buyers who fall into the following categories:
If you are interested in Discount Equity and require further information, please contact us.