making home ownership possible
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Making home ownership possibleChoose the home you want to own,
buy the share you can afford.
anynest.co.uk
Contents
Welcome to AnyNest 5
How does AnyNest work? 6
Why choose AnyNest? 9
How does AnyNest compare to renting or buying? 10
Who is AnyNest for? 12
Step by step process 14
What payments do I need to make? 16
What type of home can I look for? 18
How do I apply? 21
How do I increase my share? 22
Important things to remember 23
Choose the home you want to own,
buy the share you can afford
Start your journey to home ownership with AnyNest.
2 | AnyNest - making home ownership possible.
AnyNest is a not-for-profit organisation that gives you a helping hand towards owning the home of your choice.
Our operational partner Co-Ownership has
helped over 30,000 people to purchase their
own home over the past 40 years. This guide will
explain how our shared ownership plan works and
if you’re eligible to own a home with AnyNest.
Welcome to AnyNest
Meet Gemma and Dan - they’re here to help guide you through our fantastic shared ownership product.
Making home ownership possible Grow with AnyNest
Make your AnyNest home your own.
AnyNest - making home ownership possible. | 5 4 | AnyNest - making home ownership possible.
How does AnyNest work?In a nutshell, we buy a place together. You choose the home you want to own and buy the share you can afford. We purchase the rest and you buy us out when you can.
You will need to have a small deposit saved
up (but don’t worry; not as much as you would
need to buy all of your home without AnyNest’s
support). You pay the mortgage on the share of
your chosen home that you can afford (between
25% and 75%), and we cover the rest, which you
pay us rent on.
Over time, when you’re able to, you can increase
your ownership share in your property bit-by-bit,
until you own 100% of it.
Don’t worry, just because we own a share, it’s
still your home. You can make all of the home
improvements you like to make it your own. If you
choose to sell and move on, you will benefit from
any increase in the house price on your share and
you will share the loss with us if the value goes
down.
Got any questions? We can help. Visit our FAQ’s at anynest.co.uk
Our friendly team is always
here to help and answer any
questions. Visit anynest.co.uk
for more information.
How’s it all work?
AnyNest will help us buy the home
we want.
Enjoy security and peace of mind with AnyNest ownership plan.
AnyNest - making home ownership possible. | 7 6 | AnyNest - making home ownership possible.
Why choose AnyNest?We understand that there are lots of reasons why you might need a little help when buying a home. Our expert, friendly team can support you through the entire process from making your application to getting the keys to your new home.
Owning with AnyNest can make more
financial sense than renting or buying. Your
combined mortgage and rent payments will
be similar to a typical rent cost, but instead,
your payments will be working for you. You
can find out more about how AnyNest
ownership compares to renting and buying
on page 10.
You have the freedom to choose the home that
you want to buy. Choose any home up to the
value of £300,000 that meets our criteria, and
you could be well on your way to making it your
own. Take a look at what type of property you
can own with AnyNest on page 18.
At AnyNest, we support you every step of the way
and hope that you will be able to buy our share
of your home as soon as you are financially able.
Choose AnyNest, Love AnyNest, own AnyNest
Take the first step onto the property ladder with AnyNest.
We’ve been saving for a deposit but we’re
not sure it’s enough to purchase our own home?
Hello, how can I help?
Low Deposit
Up to £300,000
property
Buy a home in the
West Midlands
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How does AnyNest compare to renting or buying?
Buy what you can afford and we will buy the rest...
Here is how AnyNest compares to the alternative methods of renting and buying. The AnyNest comparison is based on a 3.1% interest rate
and repayment mortgage term of 30 years. The cost of
buying your home will depend on the property price and
the mortgage product you choose.
Property
Value £200,000
Renting
Buying 100% share of the propery
Buying what you can afford with AnyNest50% share with a smaller deposit
Deposit to pay Total mortgage Total monthly cost
£833 Rent
£779 Mortgage
£798 Mortgage = £390 & Rent = £408
£833
£20,000
£10,000
Non-applicable
£180,000
£90,000
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Who is AnyNest for?If you’ve been saving for a deposit on a home, but think it might take some time until you have enough, AnyNest might be the perfect option for you.
If you have any questions about your application
or whether you’re eligible to apply for AnyNest,
please visit our website.
Be over 18 and live in the UK.
Not own any property or land.
Live in the property and it be your only form of residence.
Not use the property for business.
Have an adequate right to live in the UK.
Have no payday loans or home credit within the last 12 months.
Have cleared any debt relief orders, bankruptcies or individual voluntary arrangements at least 6 years before application.
Hold no outstanding adverse credit at the time of application e.g. CCJ’s, Defaults.
1
£
Make your monthly payments work for you, so you can invest in your family’s future.
One applicant is a public sector key worker.
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Step by step process
Apply
Get approved
Get a mortgage
Choose your home
Ensure the property is eligible
Receive your AnyNest offer
Complete the legal bits
Move in and enjoyyour new home!
1 2 3 4 5 6 7 8
If you would like more information about the process of owning your own home with AnyNest, visit our website today at anynest.co.uk
Take a look at the 8 step process to owning a home with AnyNest...
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What payments do I need to make?
...let’s take a look...
There are two stages of payments for the AnyNest fee. This includes the assessment fee and the property fee. To find out more about these fees, visit our website.
The mortgage payment
You will provide a monthly mortgage payment to
your mortgage provider based on your share of
the property.
The rent payment
The amount you pay to AnyNest each month is
based on the value of your home and the portion
of your share. The table opposite illustrates the
approximate amount of monthly rent you can
expect to pay based on the value of your chosen
property and the share you wish to purchase.
Got any questions?
We can help. Visit our FAQ’s at:
anynest.co.uk
In addition to these monthly rent costs, there will be a
monthly mortgage payment to your mortgage provider.
Your Share
Property Value 25% 30% 35% 40% 45% 50%
£ 140,000 £428 £399 £371 £342 £314 £285
£ 160,000 £489 £456 £424 £391 £359 £326
£ 180,000 £550 £513 £477 £440 £403 £367
£ 200,000 £611 £571 £530 £489 £448 £408
£ 220,000 £627 £628 £583 £538 £493 £448
£ 240,000 £734 £685 £636 £587 £538 £489
£ 260,000 £795 £742 £689 £636 £583 £530
£ 280,000 £856 £799 £742 £685 £628 £571
£ 300,000 £917 £856 £795 £734 £672 £611
Your Share
Property Value 55% 60% 65% 70% 75%
£ 140,000 £257 £228 £200 £171 £143
£ 160,000 £293 £261 £228 £196 £163
£ 180,000 £330 £293 £257 £220 £188
£ 200,000 £367 £326 £285 £245 £204
£ 220,000 £403 £359 £314 £269 £224
£ 240,000 £440 £391 £342 £293 £245
£ 260,000 £487 £433 £379 £325 £270
£ 280,000 £513 £456 £399 £342 £285
£ 300,000 £550 £489 £428 £367 £306
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£140,000
What type of home can I look for?AnyNest enables you to buy any freehold property under £300,000 in the West Midlands area. However, it is important to check that your chosen home meets the following eligibility criteria.
• If your chosen property is a new-build, it must
include a 10-year structural warranty.
• If your chosen property is under 10 years old, it
must include the remaining term of their 10-year
structural warranty.
• If your chosen property is an existing home, any
required repairs from general wear and tear
must not exceed £5,000.
• We will not purchase any additional furnishings
or fittings as part of the property sale. Please
contact your solicitor about any associated
items which may be involved.
• Any incentives you are planning to use must
be declared on the application. An incentive
is defined as any type of benefit connected
with the sale of your chosen property. Not all
incentives are eligible with AnyNest.
• We will carry out an extensive survey of your new
home delivered by an external RICS registered
valuer. A detailed report will be produced stating
any issues as major or minor.
• The chosen property cannot be used
to run a business.
Don’t forget
Please review our full property
requirements before you start looking
for your home, just to make sure that the
one you choose is one that we can buy
with you. If you have any questions about
whether your chosen home is eligible,
contact us today.
Have the freedom to choose the home of your choice with AnyNest.
I really love this house Dan, it
will be perfect for us...
...Me too, let’s do the application
to AnyNest!
18 | AnyNest - making home ownership possible.
How do I apply?If you have checked the criteria and think AnyNest is right for you and want to start your journey to get onto the property ladder, head over to our website for more information and to register to apply.
There are two stages to the AnyNest application.
Once you apply, our team will make sure you
are eligible which includes looking at your credit
history with our partner Experian.
Once you’re approved, we will assess your chosen
property and ensure we are happy that it meets
our requirements. If our team are happy that
both you and your property meet the criteria,
then we can get started on your journey to home
ownership!
Making home ownership possible grow with AnyNest
Please make sure...
you have reviewed our full property
and personal criteria requirements
prior to application. We also
recommend you check your credit
report to ensure there is nothing on
there that you are unaware of.
That’s the application
done...
...We’ve been approved!
Our team of experts support you and your family every step of the way.
AnyNest - making home ownership possible. | 21 20 | AnyNest - making home ownership possible.
Important things to remember• AnyNest buys a share of your chosen property
which you pay rent on. You pay your mortgage
lender a monthly repayment for your share of the
property. If you miss payments on either your rent
or your mortgage, your home could be at risk of
repossession.
• Our shared ownership arrangement means that
when you sell or buy a greater share of your
home we both benefit from the value going up
or share in the loss if the value goes down. We
share the risk.
• We expect you to maintain your home to at
least the standard that is was when you bought
it” to “We expect you to maintain your home
properly and to a good standard.
• We expect you to pay all your housing costs:
rent, mortgage, council tax, management
charges and contents insurance. If you are
having difficulties doing this, please get in touch.
• It’s your home so you can put your stamp on it.
You only need to contact us if you are thinking
of making a structural change such as building
a garage or an extension.
• If you are changing your lender or are making
changes to your mortgage, please let us know.
• We hope you will be able to buy more of your
home as soon as possible. We can talk you
through this.
• AnyNest is a not-for-profit organisation, which
means that any money we make from the sale
of your home goes back into the pot to help
more people start their ownership story.
How do I increase my share? There is no obligation to increase the share of your home, but we expect the majority of people who own a home with AnyNest to buy us out fully. If owning 100% of your property is part of your plan, AnyNest will support you to do just that.
There is no obligation to increase the share of
your home, but we expect the majority of people
who own a home with AnyNest buy us out fully.
You can increase the shares in your home in 5%
(or higher) blocks. You also have the option to buy
the full amount at any time - you could:
• Re-mortgage when your existing mortgage
term is up and you have built-up more equity in
your home through repayment of some of your
mortgage or house price increases.
• Have a change in circumstances whereby you
have more income coming into your household
• Receive an inheritance.
You can find out more about increasing your
ownership of your home by visiting our website
or speaking to a member of the AnyNest team.
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For more information or to start your journey with AnyNest, please visit our website: www.anynest.co.uk
Terms and Conditions and criteria apply.
Choose, Love, Own
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