Besure Financial Services Ltd is authorised and regulated by the Financial Services Authority (Registration Number 301120) for residential mortgages, pure protection and general insurance business. We do not charge a fee for mortgage advice, however our typical administration fee for processing your mortgage is £495 and depending on your circumstances could be up to 1% of the mortgage advance.
50% Shared Ownership Mortgage
A 50% shared ownership allows qualifying applicants to purchase usually a bigger property than you would be able to buy outright. This is due to affordability, as you would purchase, for example 50% shared ownership (50% of the property) which means that you would pay a mortgage on this amount only and the remaining value of the property you usually paid by way of a rental payment to a housing association.
The rental part of your monthly payment is normally a percentage of the value of the share of the property owned by the housing association and in comparison to the mortgage payment is usually kept as low as possible.
Although you are initially purchasing 50% shared ownership you can usually opt to purchase up to 100% of the property at a later date, ie once your income has increased to enable you to do this.
You do not necessarily have to apply for a 50% shared ownership as these percentages do differ between housing associations. You can usually have a choice of the share that you wish to purchase at the offset.
We have specialist 50% shared ownership mortgage advisors available to discuss your situation and assist you in applying for your shared ownership mortgage. Once we have sourced the right mortgage for you from the whole market we will complete all the forms and paperwork for you liaising directly with the lender, Housing association, solicitors and estate agents from start to finish.
Just fill out our enquiry form? and we’ll arrange for one of our advisers to contact you.