Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.
A healthy credit score has its benefits, so make sure you manage your debt correctly.
Before you start university, make sure to organise your finances.
Explore the best cards with a 0% introductory period.
Could the value of your state pension rise by more than inflation?
Will your loved one's gift be tax affected?
Looking for inflation beating returns? Investing in shares could be an option.
A healthy credit score has its benefits, so make sure you manage your debt correctly.
Before you start university, make sure to organise your finances.
Explore the best cards with a 0% introductory period.
Could the value of your state pension rise by more than inflation?
Will your loved one's gift be tax affected?
Looking for inflation beating returns? Investing in shares could be an option.
Shared ownership is where you buy a proportion of a property from a local authority or housing association – usually with the assistance of a mortgage – and rent the remaining part.
Normally you start off with buying 25% to 50% of the property, increasing to 75% or even 100% (if the housing association allows it) over time. This process, of buying a small amount of your property and then buying another stake later, is sometimes referred to as 'staircasing'.
The combined mortgage payment and rent of a shared ownership property should be less than the mortgage payment you may have faced had you secured a mortgage on the whole property (less your deposit). Therefore, this type of mortgage is suitable for those on lower income and are unable to get onto the housing ladder in the usual way.
Another advantage of shared ownership is that you don't have to provide so much of a deposit, which is why this type of scheme is popular with first-time buyers.
You only need to put up a percentage (normally 10% to 20%) of the stake in the property you are taking. So, if you were taking a 50% stake in a property worth £150,000, for instance, a 10% deposit represents £7,500, as opposed to the £15,000 if you were to buy the property outright with the help of a 90% LTV mortgage.
However, not all mortgage lenders allow shared ownership mortgages. Where they are offered, most lenders will generally let you choose from their full product range, although some may have products specifically for shared ownership.
Mortgage brokers remove a lot of the paperwork and hassle of getting a mortgage, as well as helping you access exclusive products and rates that aren’t available to the public. Mortgage brokers are regulated by the Financial Conduct Authority (FCA) and are required to pass specific qualifications before they can give you advice.
Get friendly, expert advice free of charge as a visitor of moneyfacts.co.uk.
Mortgage Advice Bureau have 1,600 UK advisers with 200 awards between them.
Speak to an expert mortgage broker today.
Call 0808 149 9177 or request a callback
Mortgage Advice Bureau offers fee free mortgage advice for Moneyfacts visitors that call on 0808 149 9177. If you contact Mortgage Advice Bureau outside of these channels you may incur a fee of up to 1%. Lines are open Monday to Friday 8am to 8pm and Saturday 9am to 1pm excluding bank holidays. Calls may be recorded.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Our mortgage calculator helps you to see how much your mortgage might cost you each month.
Our how much can I borrow calculator gives you a range of how much a lender might consider lending you under a mortgage. This calculation is only an indication only.
Housing associations or house builders will often have special arrangements with a mortgage lender, giving you access to exclusive shared ownership mortgage deals.
All of our newsletters are available free by email to all Moneyfactscompare.co.uk users.
Send me Weekend Moneyfactscompare, Savers Friend, Companies Friend and selected third-party offers.
Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
A mortgage broker specialises in finding mortgage lenders who will meet your needs for a mortgage. They do this by providing you with advice and recommending the mortgages most suitable for you. They will then manage completing your mortgage application.
Mortgage brokers remove a lot of the paperwork and hassle of getting a mortgage, as well as helping you access exclusive rates.
To get an accurate affordability check you'll want to know what counts as income, so you can declare everything you have to offer. Our helpful guide explains.
To get an accurate affordability check you'll want to know what counts as income, so you can declare everything you have to offer. Our helpful guide explains.
For a more comprehensive evaluation of a property, you should choose a home buyer report or the more detailed full structural survey. Our helpful guide explains the differences.
For a more comprehensive valuation of a property, you should choose a home buyer report or a detailed structural survey. Our guide explains the differences.
Read our five tips to repay your mortgage early - even a small change can make a big difference to becoming mortgage free sooner.
Read our five tips to repay your mortgage early - even a small change can make a big difference to becoming mortgage free sooner.
A mortgage broker specialises in finding mortgage lenders who will meet your needs for a mortgage. They do this by providing you with advice and recommending the mortgages most suitable for you. They will then manage completing your mortgage application.
Mortgage brokers remove a lot of the paperwork and hassle of getting a mortgage, as well as helping you access exclusive rates.
To get an accurate affordability check you'll want to know what counts as income, so you can declare everything you have to offer. Our helpful guide explains.
To get an accurate affordability check you'll want to know what counts as income, so you can declare everything you have to offer. Our helpful guide explains.
For a more comprehensive evaluation of a property, you should choose a home buyer report or the more detailed full structural survey. Our helpful guide explains the differences.
For a more comprehensive valuation of a property, you should choose a home buyer report or a detailed structural survey. Our guide explains the differences.
Read our five tips to repay your mortgage early - even a small change can make a big difference to becoming mortgage free sooner.
Read our five tips to repay your mortgage early - even a small change can make a big difference to becoming mortgage free sooner.
Moneyfactscompare.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.
I accept. Read our Cookie PolicyMoneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.