Your ReSI Home
An affordable private Shared Ownership scheme.
Your ReSI Home is a private Shared Ownership scheme. Under the Shared Ownership model, you can buy between 25% and 75% of your home, subject to your affordability.
How does the Your ReSI Home Shared Ownership scheme work?
- You will pay a mortgage on the share that you own and a reduced rent to Your ReSI Home on the remaining share owned by Your ReSI Home, this is worked out at 2.75% of the unsold share.
- Depending on which mortgage lender you use, your deposit can be as little as 5% of your share value.
- Not all customers will require a mortgage, some customers may be able to purchase their share with savings and no mortgage.
- First-time buyers, existing shared owners and former owners buying again who cannot afford to buy a home on the open market may be eligible to buy a Your ReSI Home.
Who is eligible for the Your ReSI Home Shared Ownership scheme?
You can buy a home through Shared Ownership if both of the following apply:
- Your household income is £80,000 a year or less (£90,000 a year or less in London).
You cannot afford all of the deposit and mortgage payments for a home that meets your needs.
Additional criteria may sometimes also apply, such as:
- You’re a first-time buyer
- You used to own a home, but cannot afford to buy one now
- You own a home and want to move but cannot afford a new home suitable for your needs
Please be aware that you will be required to complete an affordability assessment to ensure you qualify for Shared Ownership and meet the Landlord’s eligibility criteria. To find out more, visit: https://yourresihome.co.uk/
Your ReSI Home FAQs
Your ReSI Home is a Shared Ownership scheme where you can buy between 10% and 75% of your home (local conditions may vary) depending on what you can afford.
Criteria for eligibility may differ depending on the local authority of your chosen development. Please visit https://yourresihome.co.uk/about-shared-ownership/eligibility/ for a breakdown of eligibility.
Buying additional shares in your home is known as staircasing. You can increase your share in your home at any time following your initial purchase. The cost of purchasing additional shares is based on the value of your home at the time. For more information, visit the Your ReSI Home Staircasing guide.
Want to find out more?
To find out more about the Your ReSI Home Shared Ownership scheme, please speak to a Gleeson Sales Executive.
Available with Your ReSI Home on selected developments and selected plots only and is subject to eligibility criteria. Your home may be repossessed if you do not keep up with repayments on your mortgage or Shared Ownership lease. Gleeson reserves the right to amend, alter, or withdraw the promotion at any time. This scheme cannot be used in conjunction with any other Gleeson offer or incentive unless specifically authorised by Gleeson in its absolute discretion (and subject to lender approval, which may include a minimum buyer contribution). Further terms and conditions may apply. Please speak to our Sales Executive for more information.