How Shared Ownership works...
Under this arrangement, you secure a mortgage with a bank. GAIN Foundation will assist in this process as we work with major banks who support our program. As your financial situation improves, you can increase your share (percentage) of ownership until you own the property 100%. Each time you apply to purchase additional shares in your property, you are required to pay an Application Fee which covers a new valuation and our administration costs. You may buy additional shares from one year after moving in, in portions of no less than 5% at a time, until you own 85%. The final purchase of 15% is to be done in one transaction and then you own your home 100%.
GAIN Foundation does charge you rent based on a current rental appraisal and its percentage share of the property it owns, and/or a monthly fee on the share it owns. We also charge an Annual Management Fee to cover operational overheads, dealing with the administration of the property and for assisting you to achieve full home ownership over a period of time. These costs can be recouped by participating in the affiliate referral program by earning commissions on Real Estate and Business Venture Listings and Sales and incentive rewards for sponsoring four (4) or more New Subscribers within the first month of joining.
- You buy what you can afford – usually a minimum of 60% of the value of the property.
- Your share grows in proportion to your investment.
- You can increase your share to 100% over time; GAIN Foundation encourages you to become the full owner of your home.
- When you want to move on you can sell your share (e.g. 60%) back to the GAIN Foundation based on an independent valuation, or you and the GAIN Foundation can sell the property on the open market with the proceeds being shared according to the ownership percentage (e.g. 60% / 40%)
Under this arrangement, you secure a mortgage with a bank. GAIN Foundation will assist in this process as we work with major banks who support our program. As your financial situation improves, you can increase your share (percentage) of ownership until you own the property 100%. Each time you apply to purchase additional shares in your property, you are required to pay an Application Fee which covers a new valuation and our administration costs. You may buy additional shares from one year after moving in, in portions of no less than 5% at a time, until you own 85%. The final purchase of 15% is to be done in one transaction and then you own your home 100%.
GAIN Foundation does charge you rent based on a current rental appraisal and its percentage share of the property it owns, and/or a monthly fee on the share it owns. We also charge an Annual Management Fee to cover operational overheads, dealing with the administration of the property and for assisting you to achieve full home ownership over a period of time. These costs can be recouped by participating in the affiliate referral program by earning commissions on Real Estate and Business Venture Listings and Sales and incentive rewards for sponsoring four (4) or more New Subscribers within the first month of joining.
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