Unlock Your Dream Home with A Shared Ownership Mortgage
Are you dreaming of owning your own home but struggling with mortgage lenders affordability requirements or to save enough deposit?
A Shared ownership mortgage could be just what you’re looking for.
At Acorn.mortgage, part of Acorn.finance, we specialise in helping individuals like you take their first steps onto the property ladder through shared ownership schemes. In this comprehensive guide, we’ll explore what shared ownership mortgages entail and why partnering with a broker like Acorn.mortgage is your ideal choice for arranging one.
What are Shared Ownership Mortgages?
Shared ownership allows you to purchase a percentage share of a property (usually between 25% to 75%) and pay rent on the remaining share to a housing association or developer. This scheme enables you to buy a home with a smaller deposit and mortgage, making homeownership more accessible, particularly for first-time buyers.
Why Choose Shared Ownership?
Is a shared ownership mortgage easier to afford?
Shared ownership mortgages offer an affordable alternative to buying a home outright, as you only need to fund a portion of the property’s value. The remainder is on rental so is not part of the mortgage lender’s affordability calculation
But will I ever own all of my home?
Shared ownership schemes allow you to increase your ownership share over time through a process called “staircasing,” giving you greater control over your home.
Is shared ownership just the same as renting?
By purchasing a share of the property, you enjoy the benefits of homeownership, including stability and the ability to personalise your living space. You will not be on a 6 or 12 month letting contract so your home is just that!
Why Partner with Acorn.mortgage?
- Expertise in Shared Ownership Mortgages:
- Our team of experienced mortgage brokers specialises in shared ownership mortgages and understands the intricacies of this unique financing option.
- We’ll guide you through the entire process, from assessing your eligibility and helping you select the right property to securing a mortgage that fits your budget and lifestyle.
- Access to a Wide Range of Lenders:
- As an independent mortgage broker, we have access to a diverse network of lenders, including banks, building societies, and specialist shared ownership providers.
- This enables us to compare mortgage deals from multiple sources and negotiate competitive rates on your behalf, ensuring you get the best possible financing solution.
- Personalised Guidance and Support:
- We believe in providing personalised service tailored to your individual needs and circumstances.
- Our dedicated advisors will take the time to understand your homeownership goals, address any concerns or questions you may have, and provide expert guidance every step of the way.
- Streamlined Application Process:
- We understand that buying a home can be overwhelming, which is why we strive to make the mortgage application process as smooth and hassle-free as possible.
- From gathering documentation to liaising with lenders and solicitors, we’ll handle the paperwork and logistics, allowing you to focus on finding your dream home.
Conclusion
Shared ownership mortgages offer a fantastic opportunity for individuals to achieve their homeownership dreams without breaking the bank. At Acorn.mortgage, we’re dedicated to helping you navigate the shared ownership process with confidence and ease. With our expertise, access to a wide range of lenders, and personalized service, we’ll be your ideal partner in arranging a shared ownership mortgage that’s tailored to your needs. Get in touch with us today and take the first step towards unlocking your dream home!