MORTGAGE HELP DESK UK

Social HomeBuy Mortgage Products - Help and Advice

We Could Help find you a Social HomeBuy Mortgage, At a Very Competitive Interest Rate

The 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 a Social Homebuy 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 Form

FREE Copy Of Our "Mortgage" Guide - Click Here

What is a Social HomeBuy Scheme Mortgage? Is a Social HomeBuy Scheme Mortgage Suitable for You? Can You Afford a Social HomeBuy Scheme Mortgage? Home Buy Mortgages Frequently Asked Questions

What is a Social HomeBuy Scheme Mortgage?

Social HomeBuy Scheme is also part of the HomeBuy Scheme introduced by the government in 2005, Social HomeBuy Scheme allows tenants of council or any other Social housing to buy their current home either in full or in a shared ownership method. The Social HomeBuy Scheme is catered for currently operated by only a very limited number of lenders. Also only a few housing associations are currently participating in the Social HomeBuy Scheme, this number is expected tol increase in time as the government is giving both the lenders and housing organisations more incentives to participate in the Social HomeBuy Scheme. To get details on participating housing associations you may want to contact the Housing Cooperation and they will assist you with the information.

Back to Top

Is a Social HomeBuy Scheme Mortgage Suitable for You?

If you buy a certain share of the home then you will have to pay an amount of rent on the portion that is owned by the government or housing association. The Social HomeBuy Scheme is mainly for those tenants who do not qualify for the Right To Buy scheme and who are not in a position to be able to buy their own home, and for existing council or other Social housing tenants who have been living with them for a minimum number of years which depends on when you started to live with them. If it was before 1st January 2005 then you would have had to be living in a home that they own for at least 5 years to be eligible for the Social HomeBuy Scheme, however if you joined that council or housing association after 1st January 2005 then the minimum is 2 years to be eligible for the Social HomeBuy Scheme.The benefit for those who qualify for the Social HomeBuy Scheme is that there is an added discount to the price of your home.The maximum discount you may get under the Social HomeBuy Scheme will be a sum of between £9000 - £16000; this also depends on the location of your property and the initial purchase proportion.

Back to Top

Can You Afford a Social HomeBuy Scheme Mortgage?

The discount given under the Social HomeBuy Scheme is only given once and therefore you should buy as much as you can in one go, since the discount is more likely to be greater if the proportion you buy is greater. The catch with the discount on the Social HomeBuy Scheme is that if you decided to sell the property within 5 years then you will have to pay back this discount. If you choose to buy on a shared ownership then the minimum share you can purchase is 25% of the house. Rent is payable by your self on the share owned by the government or housing association ,and on average it will be some where around 2.75% of the property value. As with all other Mortgages there will be added costs involved such as legal fees, valuation fees, stamp duty etc, this will cost you between £2,500 to £4,000, you will need to have sufficient savings to pay for these before you apply for this scheme too.

Back to Top

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 Social HomeBuy Mortgage that would suit your circumstances. The staff at the "Mortgage Help Desk UK" will look at available Social HomeBuy Mortgage products in the UK Social HomeBuy Mortgage market and will help you whether you have good or bad credit, it is essential that you consider tie in factors when getting Social HomeBuy Mortgage with any UK Social HomeBuy Mortgage lender. This is where our friendly and helpful highly trained staff can help you by giving you detailed advice on the range of Social HomeBuy Mortgage products that are available on the UK Social HomeBuy Mortgage market.

Back to Top

Home Buy Scheme Mortgages Frequently Asked Questions

Back to Top

Other Relevant Ancillary Products

For details regarding payment protection plans, household insurance , or life cover, contact us and we will be happy to introduce you to our partners who can help plan and arrange them.

Back to Top