Shared ownership is the smart way to buy a property in retirement. You purchase a proportion of the property and pay rent on the remaining balance.
If you’ve owned your own home for a few years, it’s likely you’ve built up some equity in it.
Perhaps you are thinking of downsizing or using a lifetime mortgage product to release some equity to pay for your retirement.
Maybe you are searching for a property that’s more suited to your needs today, or for the future.
Whatever your reasons, with Platinum Skies you can afford to buy a brand new age-friendly property at a truly affordable price.
If you were considering equity release, then you can access more capital with shared ownership than by using a typical equity release scheme, without suffering high interest rates and financial penalties that may erode your investment.
Purchasing with Platinum Skies Older Person’s Shared Ownership is simple and fair. You buy a percentage of the property and you pay us rent on the remainder. You own the percentage that you buy and we own the rest. Together, we are long-term property partners with an aligned interest to keep the property in tip-top condition.
Choose a brand new Platinum Skies home
Purchase a proportion (50%) in partnership with us
Move in and pay a low rent on the balance*
The property price increases over time with property price inflation**
In 5 years your proportion has increased in value
When you come to sell, receive full market value for your share, less event fees***
*You pay rent on the part you don’t purchase. This is 3% per annum plus a yearly increase of RPI plus 0.5% inflator.
**Based on the UK House Price Index: March 2018. Source: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/march2018
***The example is based on an overall property price of £300,000 with annual 4% house price inflation and showing a possible outcome when selling, less an event fee.
To confirm your eligibility, get in touch with one of our Advisors who can mange the whole process for you and get you moved into your new home within 6 weeks.
Please note that images, photos, sizes and dimensions are for illustrative purposes only. Whilst every care has been taken to ensure the accuracy of the information provided, this cannot be guaranteed. Please click here for further details.