Shared Ownership Rental Terms

_Penny_Dreadful

afcal72 said:

_Penny_Dreadful said:

afcal72 said:

I am looking to find a shared ownership company that is flexible with screening terms. 
The problem I am trying to overcome is that I am moving from the USA and cannot show a UK income. The company I'm looking for will be able to look at my A+ US credentials to make a fully informed decision. Are there any boutique companies out there that can help and get me past 'the computer says no" issue? 

afcal72 said:

I have offered 5 years rent in advance on a 50% ownership cash purchase. They all seem to want to see an income of 12k. If you know anyone who would take advance rent in place of income that would solve my problem. 
( The guarantor wont work for me as my relatives all own a home which negates them from participating in the scheme and there is no UK employer. )

That's not how HTB Shared Ownership works.  You need to demonstrate that you can meet the affordability using your income and you currently have zero UK income.  Offering rent in advance is not going to circumvent your lack of UK income and nobody cares about your A+ US rating.  At the time you are not eligible for HTB Shared Equity.

That system is there to see if you will pay the rent. Affordability against income is one way of doing that. Income is only as good as the notice period of your job. Another way to guarantee payment would be just to show them (or even better give them) the money. I do not see what's wrong with that but getting to someone who is not following the script but writes the script is difficult.

Affordability against income is THE way, not one way, of assessing your affordability for HTB shared equity. You’re not going to find someone who is prepared to go off script. This is not an industry or a commercial enterprise, HTB shared equity is a government initiative to help people get on the property ladder. Currently you do not meet the eligibility criteria so you cannot buy a HTB shared equity property at this time. 

housebuyer143

You have no income and seemingly enough money to not need a mortgage, why don't you just buy a standard house? 
Shared ownership is for those who will never be able to get on the ladder due to their income/location and is aimed at helping those people. The HA will have no interest in taking someone with no income when they are inundated with applicants who meet their criteria.