Hi there, I have a shared ownership property and my 2 year fixed rate repayment mortgage comes to an end next month. I have searched plenty of websites for a deal but none of them seem to show their offers for my particular type of mortgage. I am finding it very difficult to get the information I require. Does anybody know of a list of banks that offer shared ownership mortgages just so it will save me time calling them all?? I have approached a mortgage broker to do the hunting for me but they never seemed that interested in helping me as the amount I wish to mortgage isn't a lot - only £50K.
Any help, tips, advise would be greatly appreciated. Thanks

Hi...if your credit is good, Halifax, Abbey or Nationwide for a start.

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Regards

Ian

This always places me in a difficult position because we are the only recognised Homebuy Approved brokers who post here. But the simple fact is that in order to give Homebuy advice then even the excellent Mortgage advisers here on this site would have to register via a Homebuy Agent and attend the training courses. We for example are in Norwich this coming Friday for The Orbit seminar. There are around 30 such brokers, so the best bet is to contact your local Homebuy Agent and ask for the list of approved IFA's.

What are you talking about???? I and any other broker are qualified to give advice and recommendation and able to assist clients with shared ownership mortgages. Homebuy is a completely different thing altogether.

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Regards

Ian

Hi Ian, would you agree that the vast majority of Shared Ownership Mortgages are via Housing Associations?

In order to answer, lets look at what the poster wrote ' I have searched plenty of websites for a deal but none of them seem to show their offers for my particular type of mortgage. I am finding it very difficult to get the information I require. Does anybody know of a list of banks that offer shared ownership mortgages just so it will save me time calling them all?? I have approached a mortgage broker to do the hunting for me but they never seemed that interested in helping me' END QUOTE.

And that with the demise of Preferred Mortgages that there are less options available? There are some good products coming in from smaller lenders like the Ipswich but as we sit on top of Google for the search term Shared Ownership Mortgages we are finding more and more brokers who have not got a clue on how to place this type of business and are driving us potty with 'How can we add our fees to this form of lending'. I am delighted that you at least have the correct attitude - but we get so many phone calls within this sector. Given that ( I assume you will agree) that HA's are indeed the most likely partner and that it can be complex (less now with stamp duty issues - which we campaigned against!) to place this type of lending. And you will note that I have removed my direct links from my sig, all I am saying is seek professional assistance and it appears that you could be the perfect guy for them.

Hi....liverbird is coming out of a fixed deal so the fact is that there is already a mortgage in place, and although it may be shared through a housing association, the mortgage required is still accessible though a standard broker. The Homebuyer scheme is completely different and is used for new builds and government initiated schemes, and also for specific locations. It should be assumed from the initial post that it is a straight forward re-mortgage accessed by the lenders previously stated and not to cloud the issue that it is a specialist field, although it seems that some brokers may not want the hassle ;( There is no evidence that the client has adverse history or the need for 100% product, this would mean that the likes of Preferred may be needed but as you say Ipswich and some local lenders will still allow 100%. So instead of cutting the thread by dangling the carrot so to speak, it would be helpful to name a few lenders that could help???

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Regards

Ian

Hello again, I don't know if this helps but I have a positive credit history and originally had to put 5% deposit down- therefore I didn't need 100% mortgage on my 50% share of the property. My home was purchased through Riverside Home Ownership and my current mortgage is with Nationwide. They offered me a very high rate although no fee attached. I am just hoping to shop about for a better deal and finding information on lenders websites for my mortgage type is none existent!

The three that Ian mentioned are ideal, this is a pretty bad time to find great deals around, but I know you have been searching the Internet (smiley's where are you!)