SHARED OWNERSHIP MORTGAGES

Call Me on: 01494 526400 or send a message to: steve@snmortgages.co.uk

Steven Neale

Steven Neale

Finding a mortgage if you have a poor credit history is difficult and has to be approached very carefully because of the shortage of lenders in this market. Having the advice of a qualified Mortgage Adviser will greatly enhance your chances.

With only a few sub prime lenders to choose from, getting it right first time is very important.

SHARED OWNERSHIP MORTGAGES

Adverse Credit Mortgages. Steven Neale

100% Of The Share You Would Like To Buy With Adverse!

A Shared Ownership property can help you get on to the property ladder sooner as you only need a smaller mortgage. For example if the value of the property is £200,000 and the share you want to buy is 25% e.g. £50,000 I have two mortgage lenders that will consider you for the full £50,000 so you would not have to put down a deposit. You can also add fees the lender charges on top of this amount!

I also know of other mortgage lenders who will lend up to 95% depending on how good your credit history is all the way down to 75%

If you have a clean credit history, you may be able to get a Shared Ownership mortgages (SO) from a High Street lender, but what if you are refused once they carry out a credit search? Then you have a problem because there are very few mortgage lenders that offer adverse credit mortgages for a Shared Ownership purchase.

The lenders will consider you with a variation on the criteria below;

CCJ's or Defaults up to any monetary value subject to underwriter approval.

Mortgage arrears in the last 12 months - one 1 late payment in the past 12 months (but 0 in the last 6 months)

Any adverse over 12 months ago may be ignored but as with any adverse, a plausible explanation surrounding the circumstances will be required.

Loans from £3,000 to £150,000.

Option to have interest only which is very handy if your mortgage term needs to be short because of retirement for example.

Firstly, look in the area you are looking to buy a Shared Ownership property to see if there are any new build or ‘second hand’ property’s you like, being offered for sale with the Housing Association (HA) for that area. Register with the HA as they will keep you informed of both new build and second and properties that come onto the market.

Secondly look for re-sales of Shared Ownership properties with Estate Agents. If the HA cannot find a buyer, they are then offered for sale via Estate Agents just like any other property.

Once you have found a property, call me with the details including the market value, share you want to buy and any deposit you would like to put down. From a 10 minute discussion, I will be able to determine if you could get a mortgage.

Shared Ownership Mortgages are a great way to get on the property ladder because where else could you buy a 1, 2, 3 or 4 bedroom property for a fraction of the market value that you can call a home.

To find Shared Ownership Housing Associations in your area click on this link;

https://www.gov.uk/government/publications/current-registered-providers-of-social-housing

For more information on Shared Ownership (SO) Mortgages, please call me on: 01494 526400 or complete my online Enquiry Form.

3 REASONS TO ASK ME TO ARRANGE YOUR MORTGAGE

Years of Experience

I specialise in adverse credit mortgages – mortgages for people who have a poor credit history because of any number of reasons.

Choice of Lenders

I am a whole of market credit mortgage broker meaning I can talk to every lender to see about finding you the right mortgage.

Saving You Money

As a specialist mortgage broker for over 29 years I have a great deal of experience that will help save you time & money.

Contact Me

La Cachette, Upper Stanley Rd
High Wycombe, Bucks HP12 4DB
 
T: 01494 526400
 
M: 07949 713563
 

My Fees

My fee for arranging a mortgage is 1% of the mortgage amount with a minimum fee of £1,995.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

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