Shared Ownership

If you have an existing shared ownership mortgage with us you may be able to borrow more money against your property. The additional money can be used for buying an additional share or essential property repairs.

Important things you need to know:

  • There are no product or arrangement fees.
  • You can purchase a share of up to 75% from your housing association.
  • We'll lend you up to 90% of the value of this share including your existing mortgage.
  • Your additional borrowing will be secured against your home.
  • A revaluation will be required.

If you would like to speak to one of our advisors about borrowing more simply call us.

During your appointment you will be asked a number of questions to help us understand your circumstances and assess affordability and based on the information you provide, our qualified advisor will recommend the best product we have available for you.

 

Please noteFurther advances are restricted to buying an additional share and essential property repairs. Copies of estimates, consent from the Housing Association and a revaluation will be required.

Warning: THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

2 Year Shared Ownership Fixed Rate Mortgage

Initial fixed rate up to and inc. 30/09/22Then changing to the Society's SVR less a discount of 1.25%, up to and inc. 30/09/2025, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)†Max LTVBorrower share availableProduct Fee
4.49% 4.04%5.29%5.0%75%90%£0
Max loan amount £400,000
RATES CORRECT AS AT 03 july 2020

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £40,000.00 payable over 25 years initially on a fixed rate for 2 years at 4.49% and then a 1.25% discount on our current Standard Variable Rate of 5.29% for 3 years and then on our current Standard Variable Rate of 5.29% for the remaining 20 years would require 24 monthly payments of £221.89, 36 monthly payments of £212.46 and 240 monthly payments of £236.18.

The total amount payable would be £69,657.41 made up of the loan amount plus interest of £29,657.41 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparisons is 5.0% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Additional Features

  • Maximum loan amount £400,000.
  • For fixed rates up to and including 30/09/22 tapered Early Repayment Charges apply up to and including 30 September 2022
  • Free standard valuation up to £999.

The actual rate available will depend on your circumstances. Ask for a personalised illustration.

Variable Rate Shared Ownership

The Society's SVR applies for the term of the mortgage (currently)Overall cost for comparison (APRC)†Max LTVBorrower share availableProduct Fee
5.29%5.4%75%90%£0
Max loan amount £999,999
RATES CORRECT AS AT 13 may 2020

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £25,000.00 payable over 25 years on our Standard Variable Rate for the mortgage term of 25 years at our current rate of % (variable) would require 300 monthly payments of £150.25.

The total amount payable would be £45,109.60 made up of the loan amount plus interest of £20,074.60 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.

The overall cost for comparison is 5.4% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Additional Features

  • Maximum loan amount £999,999
  • No Early Repayment Charges apply.
  • Free standard valuation up to £999.

The actual rate available will depend on your circumstances. Ask for a personalised illustration.