Shared Ownership Mortgage Providers
The Government has begun to introduce a number of schemes in order to offer people the chance to get onto the property ladder, such as the shared ownership mortgage. Providers offer finance on a part buy/part rent scheme and before shared ownership mortgage providers accept you, you may have to satisfy certain criteria such as:
- The scheme you opt for must be through a registered social landlord
You will still need a deposit even though you're only buying part of the property
The lease must contain an adequate mortgagee protection clause which protects the shared mortgage ownership provider in the event you miss your repayments and fall into arrears or even if you face repossession.
The initial share of the property you purchase must usually be at least 25%
Check out the table below for some of the latest mortgage deals, or click on the link and fill in our FREE mortgage quotes form - an experienced advisor will contact you with details of the best options for your personal circumstances, including any deals available from shared ownership mortgage providers.