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5 star reviews

Shared Ownership Mortgages

Shared Ownership is a great way to buy a new home you if you do not have a large deposit or your bank can not lend you enough to buy a new home in your area.

Typically you would buy a home from a housing association who are offering shared ownership property for sale, you can buy a share from as little as 25% of the value of the property and you pay the housing association rent on the share you do not buy, this is typically cheaper than a mortgage for the whole property.

Our team of Mortgage Brokers each with over 20 years experience can help guide you through the entire process right up until you collect the keys to your new home and beyond; for as long as you need us.

We can cover the key points with you:

  • Allows you to buy a share of a property making it easier to get on the housing ladder
  • You pay the lender a monthly payment for the mortgage
  • You pay the Housing Association a monthly payment for rent on the share you didn’t buy
  • This method is usually cheaper than buying a house outright
  • You usually need a much smaller deposit

Shared Ownership Mortgages Explained

Where to Start

Getting a Mortgage Certificate is the best place to start.  This ensures that the mortgage ender is happy to provide a mortgage for your new home. Once done, then you can seach for Shared Ownership properties in your area.

Buying More Shares In The Future

When you buy a Shared Ownership house the Housing Association will allow you to buy further shares (known as Staircasing)  in the future. These are usually in chunks of 25% of the property value at the time.  It’s usually a good idea to look in to buying further shares each time you review your mortgage.

Deposits

You will need a deposit to buy a house, the good news is that it can start from just 5% of the value of the house you want to buy, so £5,000 on a house valued at £100,000.

Your deposit can come from savings or a gift from a family member.

Time Scales

You just want to move in as soon as possible, we get that and we will do our best to help you navigate the home buying process as quickly and easily as possible. you should allow at least 2 – 3 months when buying a house before picking up your keys.

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A 5 Star service from a 5 Star Broker

We love our clients and the love our service.  This is what they say…

I wanted a local broker, googled it and I found them to be very professional, and was constantly chasing the whole mortgage process all the way, very much on the ball is what I can say.

Can’t thank you enough for your help.

Oly

Such a friendly team who know what they are talking about. They will give you more than 100%. Highly recommend

Jan

Great service, really nice people. We dealt with Richard and Jayne and they were always happy to help. Thanks guys!

David
After trying to source our own mortgage it was very clear that this team know the market far better than we do. They sourced a much better mortgage with far better interest rates! Very friendly, professional service! Once we moved in to our property they even sent us a beautiful picnic basket filled with goodies! Thank you!
Natascha

I’m dealing with Richard best mortgage broker highly recommended . Always responds on time great and quick service.

Sarunas

Thanks Adam and the team for brilliant service over the years,quick,efficient helpful and great all round customer service.would never use another broker!

Nicky