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Shared Ownership Mortages
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If the rate is decent, the criteria will be so tough that 90% of people won't qualify for it.
It's the high rent that normally kicks these applications into touch on affordability.
The rent isn't high - it should be no more than 2.75% of the unsold equity, but your right about eligibility for the mortgage - the FSA sees Shared Ownership as high risk.
Some available mortgage deals at November:-
Santander lowest VR 2.57% min 10% deposit
HSBC lowest VR 2.29% min 10% deposit
Nationwide VR 2.69% min 25% deposit
Your local home buy agent will have more details and access to a panel of IFA who are conversant with shared ownership mortgages0
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