Sharedownership is a great way to help you if you do not have a large deposit or your bank can not lend you enough to buy a new home in your area.

Typically you would buy a home from a housing association who are offering shared ownership property for sale, you can buy a share from as little as 25% of the value of the property and you pay the housing association rent on the share you do not buy, this is typically cheaper than a mortgage for the whole property.

We would arrange a mortgage on the share you are buying, usually we can obtain a mortgage of 95% of the share so you only need to save 5% deposit on the share you are buying, lets look at an example;

You buy a house valued at £200,000 and you decide that you can afford to buy a share of 50% of the property, we arrange a mortgage of £95,000 and you pay £5,000 deposit. You pay the bank a monthly payments for the mortgage and the Housing Association a monthly payment for rent on the other half of the property.

Firstly you need to speak with one of our adviser, give them a call on 0800 193 0178 or submit a quick question.

Once an adviser has gathered information about your peseronal circumstances such as your income, expenditure and new mortgage requirement a recommendation will be made, once you have accepted the recommendation we can get the mortgage agreed for you at this point you are safe to make an offer on a house you wish to buy.

Key Features

• Allows you to buy a share of a property making it easier to get on the housing ladder.
• You pay the lender a monthly payment for the mortgage.
• You pay the Housing Association a monthly payment for rent on the share you didn’t buy.
• This method is usually cheaper than buying a house outright .
• You usually need a much smaller deposit.

Of course it’s a little more detailed than this but that is where we really help with guidance and management everystep of the way.

For more infomration or to get a quote call on of our professional and experienced Mortagage Advisers on 01233 512012