Shared Ownership Mortgage Quotes & Advice

As shared ownership mortgages are only offered by a limited number of lenders at this time, we do not recommend using our online mortgage quotes system to search for shared ownership mortgages.

Simply follow the links below to get free shared ownership mortgage quotes from one of our qualified mortgage advisors. We will contact you to discuss your needs and circumstances and provide you with whole of market mortgage advice as well as illustrations for any suitable products.

Shared Ownership Mortgages Explained

Shared ownership mortgages are usually only available for the purchase of property under special schemes typically from housing associations. Under such schemes the buyer of the property purchases a share typically either 25%, 50% or 75% of the property value. The remaining share of the property continues to be owned by the housing association and is let to you for a very nominal figure.

Shared ownership mortgages are usually a very affordable way to buy property and can even work out cheaper than letting a private property from a landlord. However a deposit is still required in order to arrange the mortgage and there are very few lenders who accept shared ownership mortgages so options are limited at this time.

With a shared ownership property you normally retain the right to buy a larger share of the property in the future should you wish to; likewise it is common that when the property is sold it has to be offered to the Housing Association to buy back at open market value.

The Pros and Cons of Shared Ownership Mortgages

Pros:

a very affordable means onto the housing ladder
may even be cheaper than private renting
option to extend your percentage of ownership but usually without the requirement too
lower initial deposit requirements

Cons:

Interest rates will typically be uncompetitive
a requirement to re-sell to the housing association may restrict capital gain
limited choice of lenders
limited property availability
there may be restrictions on property alterations

We treat all the information provided by you with the utmost care and security. Any details you give will remain confidential and will only be disclosed at or with your consent, where we are legally obliged to do so or where we have a duty to the public to disclose that information.

The information collected by us will be used for the purposes of processing and to communicate to you information about other products and services. We will discuss your needs and circumstances and produce free illustrations for any suitable products.

If you do not consent to your details being used in this way please email mail@rightmortgageadvice.co.uk

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