Torus Homes Sales
Buying a home is one of the biggest decisions you make in life, Torus has a range of affordable purchase options. If you're looking to buy a home or become a shared owner, our Sales Team in Torus Homes can assist you along your home ownership journey.
Shared Ownership
Shared Ownership gives you all the advantages of home ownership on terms you can afford.
You initially purchase a share of a home through a mortgage and deposit or savings. You buy as much as you can afford, from 10% up to a maximum of 75% (depending on shared ownership model), and you pay a reduced rent to us on the share that you don't own.
To qualify for Shared Ownership, your household must earn less than £80,000 a year and you must not be a homeowner at the time your Shared Ownership sale completes.
If you’re a shared owner, you can increase the percentage of shares in your home, through a process called staircasing. Staircasing allows you to increase your equity share and will reduce the amount of rent you pay monthly. You can staircase up to 100%, dependent on the terms of your lease.
Rent to Buy
Rent to Buy allows working households to rent a home at 20% below the open market rent (also known as Intermediate rent). This can provide you with the opportunity to save for a deposit to go on and purchase a home in the future.
With Rent to Buy, you can live in a high-quality, new build home for a minimum of five years. During that time, you can save towards a deposit and have the option to buy a home through Shared Ownership.
Find out more about these buying options here: