Shared Ownership Mortgages New Build Homebuy Mortgages Shared Ownership

<%@LANGUAGE="VBSCRIPT" CODEPAGE="1252"%> Shared Ownership Mortgages New Build Homebuy Mortgages Shared Ownership

Although April 2006 saw Shared Ownerships title change to New Build HomeBuy for new purchasers, the basic concept remains the same and its popularity will no doubt continue.

This programme offers eligible applicants the opportunity to “Part Buy Part Rent” a newly built property from a Housing Association. You can buy initially between a 25% and 75% share of the property, with a below market rent being paid to the Housing Association on their remaining share.

You are able to buy more shares in the property if your financial circumstances improve, this is known as Staircasing. In the vast majority of cases you can staircase to full property ownership. You are also able to buy shares in previously owned Shared Ownership properties which the Housing Association will recycle when an existing home owner wants to move on. These properties are known as Resales.

In any event affordability guidelines have to be followed and you will need to obtain competitive mortgage finance from a programme supportive lender. Our experience is invaluable in this area as the difference between those mortgage lenders offering market leading rates and those mortgage lenders who don’t could well be up to 2.5%.

Concerned that you don’t have a deposit?
Don’t worry, we know the Shared Ownership mortgage lenders who’ll let you borrow 100% of your share with market leading rates!

Concerned you have a poor credit rating?
We will help you locate the Shared Ownership mortgage lenders who are sympathetic to your individual circumstances and before you ask YES you can still borrow 100% of your share on exceptionally competitive terms. Please bear in mind that some Key Worker specific schemes may not accept applicants if they do have a poor credit rating. Furthermore, it is the Housing Association that ultimately approves such applicants. The typical mortgage rate is 7.09%. The overall cost for comparison is 7.49% APR.

Shared Ownership Guide

Your name:

Your telephone number:*

Your email address:

Where do you live?

Are you a Key Worker?

Scheme type?

How can we help you?

Initial Enquiry – How much can I borrow?

- or-

I have had an offer accepted or reserved a property and I now need to apply for a mortgage!

Do you have a deposit to put down?
You will need at least a 10% of share deposit for New Build HomeBuy (Shared Ownership)

Do you think your application may be difficult due to previous credit problems?

Any additional information about you that may help us?

*Telephone number is mandatory

Your home may be repossessed if you do not keep up repayments on your mortgage
*As we are Independent Mortgage Advisers, you can choose how we are paid. If we arrange your mortgage for you, we will charge you a fee of either £149 or £499 dependent upon your circumstances and the availability of lending options. We may also receive commission paid from the lender.