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Free Shared Equity Mortgage Advice

To help buyers get onto the property ladder, many New Home Builders and Housing Associations now offer shared equity schemes, allowing more people to purchase their own home with only a 5% deposit.

With shared equity schemes, the Builder or Housing Association provides an equity loan (often interest free for the first 5 years) of between 10-25% of the property’s value, meaning you only need to obtain a mortgage for between 90% and 75%. You maintain 100% ownership of your home, and because you’ll have a smaller mortgage than you would have otherwise needed, your mortgage repayments will be lower too.

We will provide you with your own dedicated mortgage advisor who will be with you from start to finish, ensuring you have all the assistance required to make your new home purchase as easy as possible. Your advisor will search the whole of market for all shared equity mortgage products available and determine which option suits you best. They will complete all the paperwork with you, and also deal with the lender, solicitor and surveyor throughout the process, to ensure your home purchase is completed as smoothly as possible.

As always, our end to end service is 100% free - it won't cost you a penny!

How Much Can I Borrow?

Your advisor will calculate exactly how much you can borrow based on your personal circumstances, and what that would cost, whilst explaining the purchasing process in simple terms – no jargon!

Single Application Joint Application

Great news, you could borrow up to: £45,000

Great news, you could borrow up to: £35,000

To find out exactly how much you can borrow based on your specific circumstances, please make an enquiry to speak to an advisor.

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Low Deposit Schemes Available

While Shared Equity isn't the only low deposit scheme available for people looking for an affordable mortgage option, it may be a good option to consider depending on your personal circumstances. Your advisor will be able to look over your situation and help determine whether Shared Equity is right for you. Here's an example of how it works:

• You purchase a new build home where the builder is offering Shared Equity on an 85/15 split
• The full price of the home is £150,000
• You require a 5% deposit (£7,500) to qualify for the scheme
• The builder provides an “equity loan” of 15% (£22,500)
• You then need a mortgage for 80% of the full purchase price (£120,000)
• Often you will pay no interest on the equity 15% equity loan for between 5 and 10 years
• You will own 100% of the property and can pay back the builder when you sell the home
• You can pay back the equity loan at any time without penalty

In addition to shared equity, we can also advise you on other available schemes and government initiatives such as Help to Buy, which only requires a 5% deposit to purchase a home.

Get in touch today to find out how we can help make your dreams of home ownership a reality!

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