Shared Ownership/Equity mortgages
Shared Ownership and Shared Equity mortgages are increasingly popular for first-time buyers looking to get on the property ladder. ‘Traditional’ mortgages typically require a significant deposit, which can be difficult for some to manage.
Purchasing a shared ownership property may relieve some of this pressure, as you will purchase only part of the property initially and pay rent to a housing association or landlord for the share you don’t yet own. You can then purchase further shares as and when you can afford to.
With a shared equity scheme, you pay a percentage of the full open market purchase price but acquire ownership of 100% of the property. The balance of the purchase price is provided by an equity sharing lender.
You can choose from applying online¹ or over the phone, and can even use our mortgage calculator and get a decision in principle today.
Warning:THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE