Ocean will take you through the buying process step by step. Here is a brief outline for your reference:
Step 2 Register
Register your interest with the Ocean HomeBuy sales team. Complete our online form or contact us directly to view the property. You will also need to register with Help to Buy South West (a government appointed agent). They will approve your application for affordable housing. You will be asked some questions to check if you are eligible for the property as there are certain restrictions on our properties to ensure that local residents are given priority.
Step 3 Affordability and eligibility checks
Ocean will run through the Affordability check with you. Otherwise, take a look at the Money Advice Service website to work out what mortgage you can afford. Don’t forget to look at the bigger picture and add all the purchase costs and expenses into your budget.
Step 4 Mortgage/Equity
Apply for a mortgage through a broker or directly from the bank. The Money Advice Service has some useful advice on choosing a mortgage. If you have savings to put towards the equity in your property, rather than raising the full purchase amount through a mortgage, ensure you factor this into your calculations.