Shared Ownership Mortgages - which lenders would you recommend?

Sophie_MK

Hi,
I am in the process of buying a shared ownership property in Milton Keynes. I am not limited to 2 lenders (Abbey & Nationwide) like a lot of the shared ownership companies and wondered if anyone could make a recommendation.
Do building societies lend on shared ownership mortgages (I know Alliance & Leicester don't)?
I'm a bit unconfident in approaching a broker as was ripped off really badly last time.....:mad:
Any advice would be appreciated....
Thanks,
Sophie

Leon_W

In my experience most lenders are completely useless with anything "shared ownership". And here I'm going to be totally honest with you. The ONLY lender I deal with for shared ownership cases is Abbey. You may read into that anything you like

MortgagesInc

Hi Sophie

It depends on whether you have a deposit to put down? If not, then Woolwich tend to have the best rates at 100% of your share. If you do, then a lot of lenders will consider it - then it's all down to what type of rate you'd like as to who is most cost effective.

picklepuppy1982

hi sophie

if your shared ownership is with the Milton Keynes council then be careful I just lost a shared ownership in Furtzon because the ones owned by the council dont generally have a MPC and we really struggled to find someone to lend on it. We eventually went with abbey, but i was hard work. we lost it in the end because the abbey messed up our application and the vendors got fed up waiting and went with another buyer.
we are now buying freehold in northampton for the same kind of money and we own the whole house!!!