Shared Ownership MortgageFind the Best Shared Ownership Mortgage Deals

First-time homebuyers with limited capital have been hit hard in the current financial climate, with lending criteria becoming much stricter. A shared Ownership mortgage scheme is ideal if you are looking to get onto the property ladder, because it enables you to own 25-50 percent of your property whilst working towards buying the remainder. This part-own, part-buy scheme means that you would have shared ownership of the property with your local housing association. With a shared ownership mortgage you would save money on your monthly mortgage payments, because the amount that you have initially borrowed would be smaller than if you had bought the house in its entirety. More info

Housing Associations run shared ownership mortgage schemes using private funding and government resources such as Homebuy Direct. Single buyers and key workers in particular will benefit from a shared ownership mortgage, but it is worth bearing in mind that there may be high demand and strict eligibility criteria, due to the limited resources available. Speaking to a shared ownership mortgage specialist will enable you to get a clear picture of the options available to you, and they can also advise you of the alternatives. Less