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shared equity mortgage
moggy12
Posts: 45 Forumite
my daughter and boyfriend are hoping to buy a new house on the shared equity scheme mortgage 55% rent on the rest trying to find a mortgage deal but have yet to find a mortgage company to give them a mortgage when buying a house on the shared equity scheme. any one no of any mortgage companys who can do this and ideally let them have a 100% mortgage on the 55% of the house thanks for any replys
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Comments
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You may be asking for the wrong product.
If you buy a portion of the property and pay rent to eg a Housing Association for the rest, that's shared ownership.
If you buy all the property but a HA or a builder takes a second charge over a portion of the property in the form of an interest-free loan repayable in say, 10 years, that's shared equity.
There are lenders for both, but they won't necessarily be the same.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
yes i meant shared ownership i see you are from stafford thats where my daughter is looking i'm from penkridge small world0
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Ah. Hello neighbour. :wave:
If you'd let to let me have some brief details, such as deposit available, shared ownership rent, income details and credit history, I'd be happy to post back some lender ideas for you.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
hi ok will pm you details thanks0
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i have sent 2 pm's thanks chris0
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