Shared Ownership

Shared Ownership and Shared Equity Mortgage schemes make property ownership more affordable.

One of the main reasons people do not look to purchase a property is they cannot save a substantial deposit

The Shared Ownership schemes are designed to make home ownership affordable to a larger audience who do not have substantial savings.

Do I Qualify For Shared Equity or Shared Ownership Mortgage

Shared Ownership

Is a combination of part buy and part rentwhich is arranged through a Housing Association.

This allows you to arrange a smaller mortgage by purchasing between 25% to 75% of the property from the Housing Association.

The portion that the Housing Association owns will be charged at a rent of up to 3% of their share.

On both schemes you can increase your share (or staircase up) to eventually own the property outright.

To achieve full ownership you can pay off in cash lump sums or at sometime in the future go back to your mortgage lender and increase your mortgage loan.

Shared Equity

If you are First Time Buyers who have a joint household income of less than £60,000 and are finding it difficult to purchase a home on the open market you may be eligible to apply for the Government Scheme.

Key worker e.g. Teachers, Policemen and Nurses are likely to be given preferential treatment to achieve a property purchase!

We can advise you on which lenders offer private equity loans 

Please call us if you wish to discuss further on 01642 659500

 

If you wish to discuss please call Ken Dale on 01642-659500 or email ken@ayton-law.co.uk

SHARED OWNERSHIP IS A SPECIALIST AREA WE ARRANGE THIS TYPE OF MORTGAGE THROUGHOUT, MIDDLESBROUGH, ACKLAM, MARTON, NUNTHORPE, STOCKTON ON TEES,SALTBURN -BY-THE-SEA;HARTLEPOOL AND DARLINGTON, ; NORTH YORKSHIRE,WHITBY: YORK, LEEDS AND HARROGATE, AND TYNE & WEAR: SUNDERLAND,TEES VALLEY, NEWCASTLE UPON TYNE, COUNTY DURHAM,BISHOP AUCKLAND,BARNARD CASTLE; AND GATESHEAD.YOU WILL NEED EXPERT ADVICE IN THIS AREA, AND CAN BE IN YOUR HOME, OUR OFFICE ,YOUR PLACE OF WORK,OR IF YOU PREFER THE INTERNET.

PLEASE DO NOT HESITATE TO CALL; BARRY ON 01642 659500

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.