Shared Ownership Mortgages

Are you struggling to get on the property ladder?

You won’t be alone. Others find it hard to get a mortgage because they don’t earn enough or can’t raise a big enough deposit to qualify for a loan.

But there is a potential solution – Shared Ownership mortgages.Shared Ownership

Shared ownership is where you part own and part rent a property with the help of one of the country’s many housing associations and a shared ownership mortgage. Depending on the association, the part you buy could be as low as 25% of the value of the property. Generally, you only need to raise a deposit on the share of the property you will own. As a guide, this could be as low as 5%.

As part of the shared ownership mortgage deal, you could then buy further shares over time until you own 100% of the property. In the meantime, you pay a subsidised rent to the housing association on the share you don’t own.

There are criteria you need to meet to qualify for shared ownership mortgages and a financial assessment will be carried out. However, you don’t have to be what was described as a ‘key worker’ under a previous scheme.

Request a Callback

First Name (required)

Last Name (required)

Your Email (required)

Phone Number

Enquiry Details