Mortgages
WE HAVE SCHEMES FOR: AFFORDABLE HOUSING SUPPORTING A WIDE A RANGE OF SCHEMES.
There are a number of Government backed affordable housing schemes where we can arrange mortgage finance
There are several types of schemes that we can arrange mortgages for. The vast majority are shared equity (Registered Social Landlord)(RSL)and private Builder Schemes) and shared ownership (RSL only)We also arrange lending on other types of affordable housing schemes including those that are subject to key worker or other types of restriction.
The area of this site provides information and guidance on Government initiatives and our approach to arranging mortgage finance.
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Shared Equity : Lets you buy a home by sharing the equity with a third party |
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Lender must have first charge, the seller secures their interest by the way of a second charge. We can arrange up to 95% of the purchase share – you must contribute a minimum 5% personal deposit (excludes any deposit provided by a Builder or Housing Association). |
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The mortgage must be conducted on a full repayment basis. |
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The facility to transfer the mortgage to full or part interest is not available whilst the mortgage is conducted on a Shared Equity or Shared Ownership basis. |
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Shared Ownership: A staged purchase scheme for house buyers in England |
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Maximum 90% of share subject to mortgage protection clause or section agreement; maximum 75% if no clause/agreement. Minimum share -25%. Conveyancer to confirm acceptability. Verbal confirmation is required from Housing Association confirming if mortgage protection clause in lease. |
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The mortgage must be conducted on a full payment basis |
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The facility to transfer the mortgage to full or part interest only is not available whilst the mortgage is conducted on a shared Equity or Shared Ownership basis. |
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOANS SECURED ON IT.
Why not request a quote today?
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