Shared Ownership Mortgages

What is a shared ownership mortgage?
A shared ownership mortgage is an ideal first step on the property ladder. One option for first time buyers is to buy a property with a housing association using a shared ownership mortgage. This entails the ownership being shared so that the residents own a percentage of the property and the remainder is owned by the housing association.

The residents pay their share of the mortgage and rent the other part of the property from the housing association.

Additional shares can be bought from the housing association at a later date. The term for this is “staircasing”. One disadvantage is that you losing a portion of the equity gained in the value of the property to the housing association.

If a shared ownership mortgage is right for you we can find you the cheapest quotes for your circumstances. Apply for shared ownership only mortgage quotes online now. It’s fast and free, with no obligation or credit checks.

A lot of customers speak to us with an interest in shared ownership mortgage but are not really sure where to begin, this is not really surprising as shared ownership is usually the first step on the property ladder.

We will always be friendly, down to earth and sympathetic to your needs and are always eager to take your calls with questions but to help you initially we have put together a brief step by step guide to shared ownership mortgages.

1. Find out how much you can borrow on a shared ownership mortgage (hopefully a call to us!)
2. Decide in which area you want to buy a shared ownership property
3. Locate the housing associations in your chosen area (we can help you do this)
4. Find your dream property
5. We arrange the mortgage paperwork and property survey
6. We arrange your formal mortgage offer
7. Your solicitor liases with sellers solicitors
8. We also liase with solicitors to help you
9. You, the seller and the solicitors agree a date to complete
10. Move in to your new home

We would love to hear from you. Why not start the process rolling and speak to our Shared Ownership Mortgage expert now... On-Line Fast Response

Want to read about what past clients had to say about us? Client Testimonials