shared ownership with HSBC?

betmunch

HI All,

Can anyone tell me if HSBC do shared ownership mortgages?

I have just phoned them to ask and they wouldnt answer the question, I was told to ask in branch!

Its a straight forward yes or no question, do you do them or not?

Any ideas?

Cheers

Muhasib

what scheme is the Shared Ownership? they don't do HomeBuyer Direct thats RBS and HBOS

betmunch

Just a standard non specific shared ownership scheme.

Just need to know if they do it.

I know they dont do HomeBuy Direct, but you can add Nationwide to your list if you like

Cheers

vicshippers

They didn't do it 3 weeks ago when I was looking...

Muhasib

Well I asked in a HSBC branch at my mortgage interview 4 weeks ago and they weren't offering shared ownership, they were prepared to quote as if my stake was the full amount of the property ie if I was buying 70% then would offer a mortgage of 75% of that, the adviser said they were only interested in very safe lending.

I didn't know Nationwide were now doing HBD it isn't publicised and it must be only the last couple of weeks the policy has been changed, thanks for the info its useful

betmunch

I have found out HSBC will do shared ownership with a 10% of share deposit, however this increases to 25% if the property is new build.

On the subject of Nationwide and the HomeBuy Direct, they have been doing it for as long as I can remember. Now you have me doubting myself! I may just check on tuesday!

Cheers

brit1234

betmunch wrote: »

HomeBuy Direct

Be very carefull with such schemes, they are very dodgy and best to run away from.

Muhasib

I went into see Nationwide about 5 weeks ago and the adviser said no when i mentioned HBD, maybe I should have got another opinion at the time.

Brit1234 - I'm unsure as to your 'very dodgy' comment - what is the issue with this specific scheme that possible participants need to be aware of ? genuinely asking for the relevant negative aspect to be raised as it keeps getting mentioned and I want to get to the bottom of it before considering it further.

AMILLIONDOLLARS

Leeds do Shared Ownership, but they changed their deposit criteria a couple of months ago, I think you now need 20% deposit!

AMD

Janec2

And Barclays also do Shared ownership mortgage - with 10 percent deposit.

p.s - hefty arrangement fee of £1499 though.

klink

They do - I'm in the process of organising a shared ownership mortgate with HSBC. Apparently most competitive in the market right now ( have done research). But very slow to actually give you the mortgage (from my personal experience). My mortgage person at HSBC has told me that the last 6 mortgages she has arranged has been shared ownership!