Shared Ownership Mortgage Products - Help And Advice
We Could Help find you a Shared Ownership Mortgage, At a Very Competitive Interest RateThe Main priority is to provide you with a first class service for all your Mortgage needs, Depending on your circumstance we can help you find an Shared Ownership Mortgage at a very competitive interest rate, we do all the leg work, so you can relax. Click Here to request a call back and an advisers will contact you shortly. All You Have To Do is simply fill out our Quick Mortgage Application FormFREE Copy Of Our "Mortgage" Guide - Click Here
What is a Shared Ownership Mortgage?The Shared Ownership Mortgage is a method designed for first time buyers to help them to be able to get onto the property ladder to buy their first home, the Shared Ownership Mortgage allows a person to purchase a certain percentage of the property, typically 25% or 50%, and then to pay a subdsidised rent on the remaining proportion of the property. Shared Ownership properties are available to purchase from a housing association or from some selected commercial vendors, subject to criteria; once a certain percentage of the house is bought the remaining value of the property's value will be paid for through a monthly payment. The majority of properties offered on a Shared Ownership basis are from housing associations, which are normally flats or terraced properties in more populated areas, however under the DIY shared ownership scheme, some housing associations will allow you to look for a property on the open market.The commercial companies offer non social houses, eg detached or semi detached etc, and housing can be available in less populated areas and the choice of properties can be varied. However the terms may vary according to who are purchasing from (commercial or association). Is a Shared Ownership Mortgage Suitable for You?In terms of the eligibility for Shared Ownership schemes, it varies depending on the individual scheme that you are considering to apply for. Generally to make the most of the Shared Ownership schemes offered by housing associations, it is necessary to prove that you would be unable to afford to purchase a property in any other way. When dealing with housing associations and Shared Ownership your eligibility is dependent on two aspects, these are your type of employment and your income levels.Your local councils may require that you prove you have sufficient amounts of savings to help deal with all the one-off costs which are involved in getting a Shared Ownership Mortgage, costs such as legal fees and surveys, this may normally cost you up to £2,000. If you happen to have rent arrears or bankruptcy proceedings you may not be eligible for Shared Ownership. A Key Worker scheme, is when Shared Ownership eligibility is based upon your type employment, it requires that you are employed in sectors such as health work(i.e. nursing), teaching, police forces or any other emergency services, and you must be able to prove your employment status and period of time which you have been in such employment, to be eligible for key worker Shared Ownership. Can you afford a Shared Ownership Mortgage?Shared ownerships are ment to assist first time buyers to get on to the property ladder due to the high costs of homes. The scheme allows for the purchase of a minimum of 25% purchase, which you can increase during your occupance of the property, through a method known as staircasing. However please ensure that your read the terms and conditions very carefully as these differ from housing assosication to housing association and commercial companies offering these schemes. What can the "Mortgage Help Desk UK" do for you?At the "Mortgage Help Desk UK", Our staff are trained and dedicated, to do their best to find you the best possible Shared Ownership Mortgage that would suit your circumstances. The staff at the "Mortgage Help Desk UK" will look at available Shared Ownership Mortgage products in the UK Shared Ownership Mortgage market and will help you whether you have good or bad credit, it is essential that you consider tie in factors when getting Shared Ownership Mortgage with any UK Shared Ownership Mortgage lender. This is where our friendly and helpful highly trained staff can help you by giving you detailed advice on the range of Shared Ownership Mortgage products that are available on the UK Shared Ownership Mortgage market. Shared Ownership Mortgages Frequently Asked Questions
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No information on this website is intended to constitute advice. This site contains a summary of the information relating to the products. If you are interested in any of the information on the site, you should seek information from us. We cannot guarantee that information will be accurate, complete and current at all times. All information on our Website is subject to change without notice.
