social homebuy shared ownership

rustywallet

Can anyone recommend a mortgage broker for shared ownership, specifically social homebuy (buying a property owned by Housing Association).



Thanks.

kingstreet

We advocate you ask friends and relatives for a recommendation and meet face to face.

Others work at arms-length.

It depends what will suit you best.

rustywallet

I have heard only a few places offer mortgages for social homebuy.

kingstreet

Orbit, the HCA Help To Buy Agent for the Midlands has a panel of brokers which cover the HTB schemes which now include shared ownership. So do the others.

In addition, Registered Social Landlords, such as Housing Associations, normally have approved firms.

Look at these and you should find several options.

bluemeany_2

I used London and Country Mortgages, it was a free brokerage service and I ended up getting my mortgage through Nationwide.

rustywallet

Thanks for that. I'll take a look at Nationwide. I like Nationwide - used to have an account with them...

kingstreet

Choice of lender depends on the property you are buying.

If it's newbuild, many lenders want a larger deposit, Nationwide is 15% for a house, 25% for a flat. That applies to shared ownership as well.

Only a couple of lenders will do 95% on a newbuild shared ownership.

A broker is still a more sensible route than direct to a lender unless your circumstances are exactly the same as the person recommending that particular lender.

rustywallet

Thanks for all your help. BTW It's not new build.