Shared Ownership/Equity

With house prices growing at a disproportionate rate to income levels, it is becoming more and more difficult for first time buyers to find a property that they can afford based on their income

As a solution to this problem the government has allowed several companies to offer properties under a shared ownership scheme.

A shared ownership scheme allows you to buy a share of a property and then pay rent on the remaining share to a Housing Association or authorised private company.

Typically the minimum share you can purchase is 25% and the maximum is 75%. The rent on the remaining share is calculated to be affordable.

This may be a solution if your income would not allow you to purchase the type of property you would like for the full market value.

We can obtain finance for 100% of the share you wish to purchase - subject to status.

Once you have purchased your share and as long as you continue to pay the rent for the remainder, then you will retain the option of purchasing a further share in the property as your finances improve and potentially to buy the property outright in the future. This is known as “stair casing”.

For more information and to request your free, no obligation consultation with one of our qualified, experienced mortgage advisers, please contact us using the quick enquiry form below.