Are you struggling to get on the property ladder?

You won’t be alone. Others find it hard to get a mortgage because they don’t earn enough or can’t raise a big enough deposit to qualify for a loan.

But there is a potential solution – Shared Ownership mortgages.

Shared ownership is where you part own and part rent a property with the help of one of the country’s many housing associations and a shared ownership mortgage. Depending on the association, the part you buy could be as low as 25% of the value of the property. Generally, you only need to raise a deposit on the share of the property you will own. As a guide, this could be as low as 5%.

As part of the shared ownership mortgage deal, you could then buy further shares over time until you own 100% of the property. In the meantime, you pay a subsidised rent to the housing association on the share you don’t own.

There are criteria you need to meet to qualify for shared ownership mortgages and a financial assessment will be carried out, but give us a call and we can talk though the options.

Central Financial Services have many years of experience helping people buy a shared ownership property. Some times these are new homes other times for resale, CFS can help you with both.

Your home may be repossessed if you do not keep up repayments on your mortgage.