Shared Ownership Mortgages

Shared ownership mortgages are part of a Government scheme that aims to assist lower income households and first-time buyers purchase a property.
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Can we help with shared ownership mortgages?

YES We Can


Shared Ownership Mortgages Questions and Answers

Yes. Using a process called staircasing, you can keep buying chunks of the rented part of your home from the relevant housing association, until you own all of it.

How much you pay for additional shares will depend on the value of your home at the time – and this will be determined by the housing association. You’ll pay more for the share if your home’s value has increased and less if it’s decreased. This is something that you must understand when you are buying under the shared ownership plan because you would want to purchase the balance of the property as soon as your financial position allows you to.

If you achieve 100% ownership of your home, you can sell your property yourself. However, the housing association has the right to ‘first refusal’ for 21 years after you first purchased your home. This means it can choose to buy the property back before you sell it to anyone else.

You can sell your shared ownership property at any time, but the housing association also has the right to try to find a buyer before you put it on the open market. This is known as the ‘nomination period’. Nomination periods vary depending on the housing association. Some have very short ones, say 28 days, whereas other require eight weeks.

If you don’t own 100% of your home, the housing association can choose to find its own buyer.

Advantages & Disadvantages of Shared Ownership Mortgages

Relevant Products

Fixed Rate Mortgages

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If you are looking for a mortgage with a rate that follows the base rate set by the bank of England – we can help.

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If you have bad or adverse credit we may be able to help you secure a mortgage – from IVAs to CCJs we can help.

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Standard Variable Rate Mortgages

If you are looking for a standard variable rate mortgage with competitive rates & terms we can help.

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Shared Ownership Mortgages

Can We Help?

Not all lenders offer shared ownership mortgages but by using the services at ‘A Mortgage 4 You’ we have access to the whole of the market. With our experience and knowledge of the market we will source the best terms to suit you and your credit profile. If it can be done, we will find a lender to do it.

How do I apply for a shared ownership scheme?


Mortgages for shared ownership

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We’ve been helping discharged bankrupts get back on to their feet and back on to the property ladder despite their circumstances.  Arranging a bad credit mortgage or mortgage product for discharged bankrupts is a scenario we regularly deal with.  Even if you have a history of bankruptcy and resposession we have access to whole of market lenders who will consider your application on various factors.

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