Shared ownership advice....

REDBULL_3

Hi
Sorry if I have posted this wrong but I am new to this website.
If anyone can offer any advice it will be greatly appreciated...

Basically, myself and my sister are in the process of buying a 50% share of
a £160,000 flat, my sisters credit rating is spotless however I had had adverse credit from 2002 - 2005, all ok now but is really affecting my credit rating - the housing association have said they want us to get a rate of under 7.5% but we can only get one for 8.41 - does anyone know of anywhere (apart from preferred) that we can get a mortgage under this rate....im desperate!!

Thx

MadSebW

Hi, my Husband and I have just been accepted for a mortgage through Leeds for shared ownership and i have adverse credit.. It's recent late payments aswel. When our mortgage was accepted in principle, the rate was 6.9% But we are now waiting to hear back from the official application but the rates will be new because that product ended the other day. Hopefully it won't differ too much.
Leeds base the criteria on the credit score rather than a credit search (So my mortgage advisor told me)

Good luck with it

SquatNow

RedBull: DO NOT BUY in the current market, especially not via shared ownership.

Wait a couple of years and buy 100% of the same house for £80k

brit1234

Shared Ownership in a falling market is scary, I recommend you reed the small print on what happens when the value falls. You may get burnt even more than a conventional property.

I would rent personally and buy a normal property in 18 months.

I think shared ownership properties will be shunned when prices return to normal, they are just a device to keep general prices high, its a fraud.