Shared Ownership Re-MortgageFind the Best Shared Ownership Mortgage
Do you dream of owning your own home, but you're not able to afford full mortgage payments right now? If this is the case, a shared ownership mortgage might be the best option for you. With a shared ownership mortgage, you buy a property together with a housing association. You will typically own 25-50% of the home to begin with, and you'll rent the other portion of the home from the housing association. If you feel a shared ownership mortgage might be right for you, let SimplyFinance help you on your way to owning your own home. More info
While the idea of owning only part of a home may sound less than desirable, it is a good way for people to start their way up the property ladder. And even though the housing association technically owns the other portion of your home, you are free to live in the entire home. The other rented portion of your home is under your control while you work at buying more shares from the housing association. Shared ownership mortgages have become more and more popular over the years, so they're fairly hard to come by. Let SimplyFinance do the legwork for you! Fill out our short form, and we'll hunt for a shared ownership mortgage broker for you. They'll work with you to find the best shared ownership mortgage for you. Less
It's called a shared ownership mortgage because the ownership of your property is shared between you and a housing association. Typically, the tenant will own 25-50% to start.
Even though ownership is shared with a housing association, you'll still be able to live in the entire house, as you'll be paying rent on the other part to the housing association.
You allowed to "staircase" which means that you buy more and more shares of the house from the housing association as you are financially able to do so.
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