Where can I find a Shared Ownership mortgage?
Specialist Shared Ownership mortgages are offered by a wide variety of high street banks, building societies, and niche lenders within the UK. These lenders understand the unique needs of shared ownership buyers and provide loans that accommodate them. Whatever home-ownership looks like for you, there are numerous options available to suit your financial situation.
Key Considerations
When searching for a Shared Ownership mortgage, it’s important to consider your monthly rent payments alongside the payments required by your mortgage agreement. The rent is typically calculated based on the share of the property you do not own, so this cost will need to be factored into your overall budget. See below for more information on how your rent is calculated.
Consulting a Mortgage Advisor
Navigating the Shared Ownership mortgage market can be complex, so it’s often beneficial to seek the advice of a specialist mortgage advisor. Advisors with specific knowledge of the Shared Ownership scheme can provide valuable insights and help you find the best mortgage product for your circumstances.
We always recommend speaking to a mortgage advisor who understands Shared Ownership. We work with The Mortgage People, who offer comprehensive support from initial consultation through to securing your mortgage.