We believe that shared ownership is a great way for first time buyers with a small deposit to get on the housing ladder, especially in areas in and around London and the South East where property prices have skyrocketed in recent years.
Here are some great reasons why you should choose us for your shared ownership cases and how we can help your client:
Less fees to pay
We don’t charge application, completion or CHAPS fees on our shared ownership mortgage products, although a valuation fee is sometimes payable.
Supporting your client to own more of their home
Your client has the option to staircase up to 100% and take on full ownership of their property (please note where your client is staircasing to 100%, this will be treated as a purchase application)
All loan sizes great and small
We will look at cases where as little as 25% of the share is being purchased, or from 40% where the loan is less than £50k.
Making affordability easy
We use a shared ownership affordability calculator with reduced ONS household and communication expenditure for properties less than 10 years old. We will take employed, self employed, pension and investment income into account when assessing the case.
Many types of property considered
We will lend on new build houses and flats up to 95% LTV, and we will consider flats up to 10 storeys. We may also consider flats above commercial properties for shared ownership applications.
Help from parents or family
We will accept gifted deposits up to 95% of the share – for gifted deposits above 90% please note we require 12 months rental history.
For more information on our shared ownership range give us a call on 0330 123 1073 and speak to a member of the team.