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Shared Ownership Mortgages

Shared ownership mortgages allow you and a mortgage lender to jointly purchase a property, usually in a 50% split.

You will repay your part of the mortgage while also paying rent on the other half owned by the mortgage lender. Shared ownership mortgages can be valuable to those home buyers who cannot afford to buy properties outright, such as first time buyers who are trying to get a step onto the housing market. In the past shared ownership mortgages were seen as a potentially riskier option for mortgage companies, but have been increasing in popularity in recent years both due to the competitiveness of the mortgage market and the rising cost of property in the UK.

For information and quotes on share ownership mortgages see below:

Initial Rate	Type	Period To	Provider	The Overall Cost For Comparison APR	LTV
3.99%	Fixed	Jan 2010	Woolwich (Barclays)	5.00%	60%	More
4.19%	Fixed	Jan 2010	Northern Rock	6.00%	65%	More
4.39%	Fixed	Dec 2010	Premier Mortgage Service	5.00%	65%	More
4.39%	Standard	Jan 2011	Cheltenham & Gloucester	5.00%	75%	More
4.39%	Standard	Jan 2011	Lloyds TSB Scotland	5.00%	75%	More
4.49%	Fixed	Dec 2010	Alliance & Leicester	7.00%	60%	More
4.59%	Discount	Dec 2011	Newbury Building Society	5.00%	75%	More