Joint equity mortgage advice needed. Please

lordexavier_the_2nd

Hello there folks,
I hope someone will be so kind to offer me some advice.
I am a first time buyer and on a local council/housing association scheme, which has been set up to assist first time buyers get on the property ladder.
The scheme works as follows:
The housing association purchase the new build property from the developers at full value. I then purchase a 76% share of the property thus leaving the housing association with a 24% equity share.
However, i do not pay rent or repayments on any part of thier share. I only pay the mortgage on my 76%.
I will have the option of purchasing the housing associations 24% stake off them in the future when i can afford to do so.
I have paid a deposit etc to secure the land and have now been given full details of the property i am going to buy.
I seem to have stumbled on a little problem at this stage, i have phoned several mortgage lenders who dont offer joint equity mortgages.
Does any one know of a good lender who may be able to accomodate me.

Thanks in advance for any help you can provide.

Monkeypants_3

Nationwide were willing to offer my partner and I a mortgage on a shared equity property when we enquired earlier this year. It was a similar deal - my partner and I would have owned 75% and the housing association would have owned the remaining 25%, on which we wouldn't have had to pay any rent.

Good luck.

lordexavier_the_2nd

Thanks very much for this info.
I managed to sort it all out today with the Halifax. They were more than helpfull.
Thanks again.