Is this a smart way to approach shared ownership?

YoungGentry

kingstreet wrote: »

I suggest you get the numbers together and run them through your likely lender's affordability calculator.

Then, get in touch with your local HTB Agent which manages SO in England and ask them to run the SO calculator to see if it fits.

Great response. They will give me a maximum of 68600 and a minimum of a 11year term. So I will shift that to 15 year and overpay as suggested by libf.

Also I stress test myself @ 10%, just in case.

YoungGentry

Dird wrote: »

What generally counts as affordable for them? I'm having my meeting on Monday & hoping for 8 years.

Is 3.39% the best rate for SO?

No it isn't, that was one of the best I could find on 80℅ LTV.

Use an intermediaries site, as a guide before your meeting to avoid any shocks.

Nationwide, tsb, and Halifax are available fo use. Nationwides is one of the most complete for SO that I have seen.

libf

YoungGentry wrote: »

No it isn't, that was one of the best I could find on 80℅ LTV.

Use an intermediaries site, as a guide before your meeting to avoid any shocks.

Nationwide, tsb, and Halifax are available fo use. Nationwides is one of the most complete for SO that I have seen.

Is it a new build shared ownership? I originally wanted to go with Nationwide when I bought my 25% of my current flat, but their new build deposit requirements were too high. Ended up with Woolwich and then re-mortgaged to Nationwide.

EDIT: You mentioned it's a re-sale in the first post. Ignore me.