Domovo is part of forward-thinking housing association bpha and it provides homes for people across the Cambridgeshire to Oxfordshire corridor. Domovo wants to help you buy the home you’re looking for at a more affordable price – whether that’s to buy, to rent, or via shared ownership. The choice is yours
Domovo was established at the beginning of 2019 as a selling agent for bpha, with new build and resale properties and a sales and marketing team with a wealth of great knowledge on the process of buying a home. The marketing team offers a comprehensive range of high-quality property marketing services supporting all sales activities undertaken by sales advisers, sales progression and sale progression co-ordinator teams. It understands that buying or selling a home can be a very stressful process, and is committed to making the process easy and simple, assisting you every step of the way.
Since 1 January 2019, Domovo has reserved 557 new homes, 491 completions and generated over £66m in revenue. Domovo also had 418 shared ownership properties being re-sold through it – known as “resales”. It is predicting over 200 new home completions in the financial year of 2021-2022.
What is shared ownership?
Shared ownership is one of the schemes offered under the Government’s Help to Buy initiative and provides an affordable route into homeownership, offering an alternative to renting. You buy a share of a home and pay rent on the share you do not own. Initial shares are between 25% and 75%. You can put down a deposit based on the share you are purchasing, meaning it will be considerably less than a deposit on the open market.
In the future, if you wish to own more of your home, you may be able to staircase, which means buying more shares of your property. You are also able to sell your share of the property based on its value at the time of sale.
Some of the best benefits of shared ownership include: your monthly costs will be lower than if you rent privately, you own part of your home rather than paying rent with no return, a lower deposit is needed, you may be able to purchase 100% of your property, you pay a subsidised rent and you’ll be alongside the thousands of people using this scheme to get on to the property ladder. There are approximately 200,000 shared ownership homes in the UK and many more to come.
The next steps…
If you’re interested in buying a shared ownership home, visit the website domovohomes.co.uk, to browse a great selection of homes across the Oxfordshire to Cambridgeshire corridor. When you find a home you like, get in contact with the sales team on 01234 674 070 or visit domovohomes.co.uk to discuss your eligibility and to register your interest. The sales team will guide you through the next steps with documentation, fees and registering on the Help to Buy site.