Two shared-ownership mortgage products launched by Buckingham BS.
Two brand new shared-ownership mortgage products have been launched by Buckinghamshire Building Society.
Shared ownership could be a suitable alternative for those FTB’s who are striving to take their first step onto the housing ladder. The compromise involves buying between 25% and 75% of the property’s total value, with your local housing authority buying the remainder. Your monthly outgoings are then a combination of mortgage repayment and rent to the LHA. The rental figure charged can be up to 3% of their share of the property’s value.
The details of the mortgages offered by Buckingham are:
- 5 year fixed rate at 4.29% for up to 95% LTV
- 3 year discounted rate of 3.79% also for up to 95% LTV
Shared ownership is one option for FTB’s, but it is not the only option.
This lender, and others, offer a variety of products that may be more suitable for your circumstances. The only sure way to find a mortgage that is exactly right for you is to seek the advice of one of our professionals here at Deal Direct.
We can compare the different options for you and guide you through each lenders’ requirements, which means you can make an informed decision about what is likely to be the largest purchase of your life.
For a secure first footing on the property ladder, seek the advice of Deal Direct.
Call us now on 0800 048 8828.
