havent a clue

mazybel

am looking at shared ownership property,am waiting on advice from not whole of market broker, ninety five pound fee on completion plus procuration !!also i have poor credit history,should i look at other brokers.

danjberry

yes, find a whole of market otherwise your deals will be restricted. also try to get a fees free one

mazybel

i am about to view a shared property with housing association,i need advice on relevant questions to ask.

Bargain_Rzl

You should make sure that the broker you use has experience in mortgages on Shared Ownership properties. When I applied for mine, there were identical rates available from Nationwide and Alliance & Leicester, but my broker was able to advise me that A&L did not deal with Shared Ownership so there was no point applying.

(This isn't relevant to mortgages, but make sure your solicitor knows about SO as well. There are various complications especially surrounding Stamp Duty.)

danjberry

ask the rent amount you will be required to pay, ask if the mortgagee protection clause is in place and enquire on staircasing (buying the remaining share) you will probably have to rent their share for so long before able to buy the rest or part of the remaining share owned by the HA so ask how long this period is and how much of the property you can buy at 1 time. also ask about service charge etc