We understand it’s difficult for people to save for a deposit when rents are so high. Parity Trust offer a Shared Ownership Mortgage product which only has a requirement for a 5% deposit subject to eligibility.
Shared Ownership allows you to buy a set percentage of a property without needing to raise a mortgage and deposit for the full purchase price. You pay rent on the share of the property you do not own.
For many this offers an affordable way of buying a property. Typical Shares available can range between 25% – 75%. Larger shares can normally be purchased at a later date in line with the terms and conditions of the development provider and will also be dependent on your financial situation. This is often referred to as staircasing.
As part of the application we will carry out a financial review to ensure the mortgage, rent and other regular expenditure is affordable and sustainable.
For further details please contact us on 023 9237 5921 or you can enquire online using the form below.
Fees & Other Costs to Consider
- Stamp Duty
- Legal Fees
- Mortgage & Valuation Fee
- Buildings Insurance
- Life / Other Protection Insurances
- Rent & Maintenance Fees
- Early Repayment Charge (within fixed rate period)
- Mortgages from £25,000 - £250,000
- Low Deposit – 5%
- Initial 3 Year Fixed Rate – 5.99% (6.16%APR)
- Admin & Survey Fee £995.00
- No age restrictions for older borrowers
- Terms of up to 30 years available
“I have been very pleased and grateful to have had and used the services of Parity Trust and the helpfulness of the advisors and organisers.”