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Shared ownership and shared equity schemes

There’s more than one way to buy a house. If you’re looking at more affordable options then Shared Ownership or Shared Equity could be the right option for you.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Our initial mortgage consultation is free. We will charge a fee between £399 and £999 on mortgage application. The amount we will charge is dependent on the amount of research and administration required.

Shared Ownership

Shared ownership schemes are provided through housing associations, where you buy between 25% and 75% of the value of the property and pay rent on the remainder. Through such a scheme you can buy part of a newly built home or an existing property.

You’ll probably need to take out a mortgage to pay for your share of the property’s purchase price.

Not everyone is eligible for a shared ownership scheme.

Shared Equity

Shared equity schemes give you a loan for part of the deposit on a property. You will still need to take out a mortgage on the remainder of the property price, but because the loan counts towards your deposit you may be able to take out a mortgage where you might otherwise struggle.

Legally through a shared equity scheme you own 100% of the property.

Often these schemes are offered by developers. Generally no interest is charged for the first five years, although thereafter a charge will be made - although the amount will vary from scheme to scheme. If you have not repaid the loan by the time you come to sell the property, usually the developer will be entitled to a share of the sale proceeds proportionate to the share of the purchase price they loaned when you purchased the property.

For more information, please contact your local Your Move branch >

8277-367

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Take control of your purchase with a My Move account.

- Save property searches
- Email alerts
- Save your favourites
- Manage your viewings

Register Now