Subscribe to our Feed
Shared Ownership
Shared Ownership Mortgage schemes are an easy way for borrowers to get on the housing ladder. They are part buy, part rent schemes commonly known as shared ownership.
Popular with first time buyers, shared ownership mortgages allow the borrower to purchase a property with much less funds (such as a sizeable deposit) as opposed to a standard mortgage.
- Access to the whole mortgage market
- 25%, 50% & 75% shared ownership deals
- Buy 100% of your share
When you purchase a shared ownership property you buy a percentage stake in the property, typically 25%, 50% or 75% from a housing association. Whilst this makes the mortgage part more affordable you will still have rent to pay on the remaining stake of the property still owned by the housing association.
As you part buy and part rent there is very little, if any deposit required.
Whilst most first time buyers will chose a shared ownership mortgage at around 25 or 50% you will have 'staircasing' rights which simply means you have the option to buy more of the property at a later date, increasing your stake and decreasing the housing associations stake.
Whilst its important to remember you are only buying 25%, 50% or 75% of the property most lenders will lend 100% of your purchase price - that's to say, if you want a 50% shared ownership mortgage on a £200,000 property, the lender will lend 100% of the £100,000 to purchase your stake in the property.
Simply complete the form at the top of this page and we will call you back today!
