Shared Ownership Remortgage

Getting you foot on the property ladder with Shared Ownership

The governments Shared Ownership scheme aims to assist lower income households and first time buyers get the foot on the property ladder by allowing you buy a percentage of the property and rent the remaining percentage from participating housing associations. In order to qualify your combined household income must be below £60,000, be a first time buyer or someone who has owned a property before but can no longer afford the entire mortgage themselves. If you are a housing association tenant then you may still qualify for the scheme.

 

You will normally need a minimum 5% deposit and subject to lending criteria you will be able to raise a mortgage up to a further 75% of the value. The remaining 20%, in this example, would form your rental commitment with the loans housing association.

 

You are limited by the number of lenders who offer this type of mortgage and so you should discuss your mortgage options with one of our mortgage experts who are specialists in Shared Ownership mortgages. They will offer impartial mortgage advice, based on your individual circumstances.

 

Use the enquiry form opposite or get in touch with one the team, now.

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Legal Information

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOAN SECURED UPON IT.

 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.  REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. 

 

 

The Money Bee, which is a trading style of Mortgage and Loans Limited, based in Stafford, (Financial Services Register number is 757812).

Terms and Conditions

There may be circumstances where we need to charge a fee.  In these instances, we will notify you at an early stage which could be £125 upon application and an arrangement fee up to £495, or £995 for specialist mortgages, on receipt of the mortgage offer.

 

Parkfield Business Centre, Park Street, Stafford, Staffordshire, ST17 4AL

Telephone 01785 878 555

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Parkfield Business Centre, Park Street, Stafford, Staffordshire , ST17 4AL