For many, shared ownership is a great way of getting your foot on the housing ladder. Offered on either new homes or available through housing associations on the second-hand market, generally, the shares offered are between 10% and 75% of the property value. In some cases, there is an option to buy a larger share as your income increases or if you want to move you can sell back your share to the next buyer. With shared ownership you buy a share of the property, and pay rent to a landlord on the rest.
When you buy a home through Shared Ownership, you:
Our friendly mortgage advisors are experts in shared ownership and the Government Schemes. We take great pride in helping our clients purchase their own homes and would welcome a call to discuss which scheme is suitable for you.
As Shared Ownership Specialists, we offer:
For further information see: https://www.helptobuy.gov.uk/shared-ownership/
Today
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
4 days ago
Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.
As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more.
7 days ago
Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.