For thousands of first time buyers, getting on the property ladder seems virtually impossible, due to the continuous increase in house prices in the UK.

Shared ownership mortgages are very much designed with that in mind. You buy a percentage of a property (usually 50%) through a housing association and pay them rent for the remaining share, with the option of buying the remaining share in the future.

It is important to remember that schemes vary depending on the housing association, so it is important to research the scheme and find out available mortgage schemes as you will be limited in choice of lenders, who may consider lending on these schemes.

We will be happy to help you buy on a shared ownership scheme, so contact us to book a free mortgage consultation to ensure you fully understand all implications of this type of mortgage scheme.

For information on Housing Associations click HERE