Shared Ownership Mortgage

We understand it’s difficult for people to save for a deposit when rents and the cost of living are high. This is why we offer a Shared Ownership Mortgage to help you get on to the housing ladder. We can provide these mortgages on Community Land Trust and Housing Association homes.

What is a Shared Ownership Mortgage?

A Shared Ownership Mortgage allows you to buy a set percentage of a property, without needing to raise a large mortgage and deposit for the full purchase price. Typical shares available can range between 25% – 75%. You pay rent on the share of the property that you do not own. We offer a Shared Ownership Mortgage which only has a requirement of a 5% deposit.

You can view a film here which shows the work of Wickham Community Land Trust based in Hampshire, who we were proud to support during their first affordable homes project.

Mortgage Payment — in the above example the Mortgage is offered over 30 years with an Initial 3 year Fixed rate of 5.99% (6.16% Typical APR).

Rental Payment — the Rental figure is an approximation and will vary with each development.

Overview

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)

Key Features

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

Contact us

Parity Trust
Port View, One Port Way, Port Solent, Portsmouth PO6 4TY
023 9237 5921

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