Buying a property can be the biggest decision made in our lives. It is for this very reason that professional advice is critical from qualified advisers.
Shared Ownership
Shared ownership offers people the chance to own a smaller percentage of their home, usually meaning their mortgage costs are a lot lower coupled with a rental payment. Many people have heard about shared ownership and some few confuse this with joint ownership or the thought of having to share your home with others. Do not fear this isn’t the case and we wouldn’t expect you to share your home with Jeff from down the road.
Simply put Shared ownership means you pay back your mortgage each month on a smaller percentage of the property along side paying an amount of rent to the Scheme Provider/Housing Association for the rest.
In principle for lower earning income households this may be a great option to get your foot on the ladder. We tend to find that this serves as a great backup if income doesn’t allow a client to achieve a standard mortgage.
Most providers will also allow you to purchase more of the property as time goes on. This means over time you can end up owning the whole of the property as income and affordability allows.
If you wish to know more about Self Ownership, please get in contact today.
Stewart Financial Maidstone
65 High Street, Maidstone,
ME14 1SR
01622 278092
mortgages@stewartfinancial.co.uk
Stewart Financial Ashford
21 Cedar Parade, Ashford
TN23 3TE
01233 234875
mortgages@stewartfinancial.co.uk
Stewart Financial Folkestone
93 Sandgate Rd, Folkestone,
CT20 2BQ
01303 210343
mortgages@stewartfinancial.co.uk
Stewart Financial Tenterden
102 High St, Tenterden,
TN30 6HT
01580 392102
mortgages@stewartfinancial.co.uk
Stewart Financial Hythe
156B High St, Hythe,
CT21 5JU
01303 720724
mortgages@stewartfinancial.co.uk
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
*We do not charge for our advice, however there will be an administration fee of £399 payable on completion of your mortgage. If your mortgage does not go ahead for any reason you will not be charged a fee.
Stewart Financial is a trading style of Stewart Financial Solutions Ltd who is an Appointed Representative of Mortgage Intelligence which is authorised and regulated by the Financial Conduct Authority under Number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.
Registered Address: Stewart Financial, 21 Cedar Parade, Ashford, Kent, TN23 3TE. Registered in England and Wales under number 05514279.
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