Shared ownership is a scheme to help first-time buyers get a foot on the property ladder. You will buy a share in the property, typically ranging between 25% - 75%, and pay a subsidised rent on the remainder. In the future you can buy additional shares of the property with the opportunity to eventually own the property outright. However, not all lenders will lend against a shared ownership property and the deposit percentage of your share can vary from 0% - 10% depending on lender. It is therefore really important to obtain advice on this type of transaction to ensure you are arranging a suitable mortgage to your needs. These properties are also very popular so we are able to help put you in the strongest possible position to help secure your home.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE