We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Share to Buy HELP!!!
Cooper_c69
Posts: 2 Newbie
I hope someone can advise, we currently own 40% of our property out right and rent the remaining 60% from the local housing association, does anyone know of any mortgage lenders that would lend us the money to purchase the remaining 60% I don't know how it works
0
Comments
-
Go to a broker.0
-
That's shared ownership, not share to buy.
The process is called staircasing. You need to check with the HA how high you can staircase, as not all allow 100% ownership.
Once you establish that, you will need an experienced broker to guide you through how to finance this, as different lenders treat it in different ways and will require different levels of equity in the property both before and after staircasing.
Having done one of these, I am happy to say I will not be taking on another, not for anything. It was a nightmare.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards