Housing Association Property - Fixed Equity - Mortgage Advice PLEASE!!!!

Cortes

Hey

I posted earlier and got a great response from Mortgage Mamma (thanks again!) regarding shared ownership properties and mortgage lenders.

However.....I have just been informed that the housing association property we are going for is actually a FIXED EQUITY option at a purchase of 60% only....no chance to staircase but no rent to pay on the remaining 40%.

Anybody know of any lenders out there apart from the Halifax that will give a mortgage on a Fixed Equity property?

Help would be appreciated for sure!

Thanks :T

izoomzoom

Hi

We are in process of getting a mortgage from Ipswich BS for SO, but we are able to staircase further, so don't know if they would be willing, but it is worth a try.

Cortes

izoomzoom wrote:

Hi

We are in process of getting a mortgage from Ipswich BS for SO, but we are able to staircase further, so don't know if they would be willing, but it is worth a try.

Thanks loads izoomzoom but it looks like the Halfax are the only lenders at present who lend on Fixed Equity schemes, although I'm sure that will change in the future as they are becoming more popular as these damn house prices keep rising!

If anybody needs help on Fixed Equity schemes I am now quite familiar with the process so just drop me a pm.

Oh yeah....we're sorted now so don't rush to reply folks heh heh!

P.S. izoomzoom - I know you're looking at the Ipswich BS for your Shared Ownership mortgage but the best deal we found was with the Nationwide (when we thought ours was a SO scheme)....good rates and no MIG....just a thought. Good luck with the property though! Exciting stuff!!!! :T

Adios