making home ownership possible

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.


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

8 | AnyNest - making home ownership possible. AnyNest - making home ownership possible. | 9

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


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.


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...


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


£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.


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.


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

making home ownership possible

Documents