shared ownership mortgages

MsMatthews

Hi there everyone,

I am in a bit of a dilemma, please help!

Not many Banks/buliding societies deal with shared ownership mortgages, so how do i know that I am getting the best deal?

Thanks.

financial_solution

Dear Ms Mathews,

The only option is research. I am aware of one lender but they are not the cheapest in the world and off the top of my head they will lend the full purchase price up to 75% of the value of the property. I am not cast-iron on this without checking, just wishing to help.

regards,

mark

herbiesjp

Sorry, but there are plenty of lenders that do shared ownership mortgages.

Some require a 5% depsoit of the share your are purchasing, and some do not.

Which lender is best for you will depend on your circumstances, but there is more than one lender out there

HTH

*EssEncE*

In my experience I've found Building Societies to offer more 'Shared Ownership' based mortgage products, than traditional Banks. Althought there are a few high street banks who also have simular products available.

Like the previous posters have said, it's a case of researching the market.

:think:

Bargain_Rzl

As far as I'm aware there's really no such thing as a "shared ownership mortgage" - just normal mortgages with normal interest rates, some of which are offered by lenders who are happy to deal with shared ownership properties and others which are offered by lenders who aren't. A broker will be able to advise you.

On the day I applied for my mortgage there were two attractive deals available with identical interest rates and (I think) identical fees. One was A&L and the other was Nationwide. I asked my broker whether either was preferable and he said that the A&L one would not be available to me as they don't lend on shared ownership. So Nationwide it was

lynzpower

ABBEY also do them as does the halifax ( or they Did in anyxcase)

your best bet i s to see a whole of market brioker, they wil lfind you a good deal