shared ownership mortgages - help

laura567

Does anyone have any advice on shared ownership morgages?

Who does them and are they worthwhile for first time buyers?

Mr_helpful

laura567 wrote: »

Does anyone have any advice on shared ownership morgages?

Who does them and are they worthwhile for first time buyers?

What do you want to know? Do you have a deposit since there is only a handful of lenders doing 100% of your share.

herbiesjp

Most high street lenders do them, but as rightly said, most will need a deposit for the share you are purchasing.

Some do not want a deposit, but you need to see which is offering you the best deal, and which deals you could be eligible for.

This link may help on shared ownership information:
http://www.housingcorp.gov.uk/server/show/nav.550

sarahluv

i urgently need some advice.

i was meant to be moving into my new shared ownership flat in just over a week, but nationwide have valued the flat at 10% less than the housing association selling price. i'm going to go to halifax to see if i can get a higher valuation.


have i any chance at all of getting the housing association to lower the price? or am i stuck?

jonesMUFCforever

sarahluv wrote: »

i urgently need some advice.

i was meant to be moving into my new shared ownership flat in just over a week, but nationwide have valued the flat at 10% less than the housing association selling price. i'm going to go to halifax to see if i can get a higher valuation.


have i any chance at all of getting the housing association to lower the price? or am i stuck?

I think it depends on the housing market in your area.
If you have exchanged contracts then you are stuck.

sarahluv

ejones999 wrote: »

I think it depends on the housing market in your area.
If you have exchanged contracts then you are stuck.

hi,

i've not exchanged contracts. can't do that until i get a mortgage offer!