Shared Ownership Scheme
Specialist Mortgage Broker specialising in the Government's Shared Ownership scheme
Shared Ownership Mortgage Advice
The government has created Shared Ownership to help hard-working people like you take steps to buy your own home. Whether you are planning to buy your first home or looking to upscale from your current property, the Government’s Shared Ownership scheme can assist you in purchasing a new home.
If you are wondering which scheme is right for you, this is where DJB Mortgages, as a specialist Help To Buy Mortgage Adviser, can assist. With a clear idea of your finances, we are qualified to research the lenders market and prepare the advice needed around Shared Ownership. It is on us to make sure that you fully understand your options before you start researching the property market.
Shared Ownership Mortgage Advisers
If you cannot quite afford the mortgage on 100% of a home, the Shared Ownership Scheme offers you the chance to buy a share of your home (between 25% and 75% of the home value), and pay rent on the remaining share. All you need is a 5% deposit of your share of the property. If you are not able to raise a substantial deposit, this option creates an opportunity of getting your own home. This option is available for first-time buyers, homemovers and if you have owned a property before.
Do I qualify for Help to Buy Shared Ownership Scheme?
You could buy a home through Help to Buy: Shared Ownership in England if:
> your household earns £80,000 a year or less outside London, rising to £90,000 a year or less in London,
> you are a first-time buyer, you used to own a home but cannot afford to buy one now or are an existing shared owner looking to move.
With Help to Buy:
Shared Ownership, you can buy a newly built home or an existing one through resale programmes from housing associations. You will need to take out a mortgage to pay for your share of the home purchase price or fund this through your savings. Shared Ownership properties are always 'LEASEHOLD'.
Only military personnel will be given priority over other groups through the Government-funded shared ownership schemes. However, councils with their own shared ownership home-building programmes may have some priority groups, based on local housing needs.
Specialist Mortgage Brokers
To get an expert assessment of your case, talk to DJB Mortgages, a specialist mortgage broker. We have the knowledge and competence to check your eligibility, take you through the process stage by stage and find the most favourable deal to suit your circumstances and goals.
Shared Ownership Mortgage Lenders
Not all banks and building societies offer shared ownership mortgages. We can access shared ownership lenders due to DJB Mortgages being a trading name of Just Mortgages Direct Limited, which is an Appointed Representative of The Openwork Partnership, a trading style of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority. The Openwork Partnership is one of the UK’s largest Financial Advice networks, with over 4,500 advisers and in excess of 700 appointed representatives based throughout the UK. This gives us the backing of one of the largest financial advice networks and, in turn, allows us access to semi-exclusive and exclusive mortgage deals.