This guide explains the various options available to finance the purchase of your shared ownership home. We recommend that you speak to an independent financial advisor about your options in more detail, however, this guide should give you an idea of the various ways you can get onto the property ladder via shared ownership.
If you are buying a property through the shared ownership scheme it is likely to be the first property you have bought and this may seem daunting. Don’t panic; this guide will help you identify the different options available to you and, with the help of your independent financial advisor you will be able to choose the right product for you and your shared ownership purchase.
If you have applied for shared ownership and have not already spoken to an independent financial advisor, now is the right time to do this.
Most people will need to take out a mortgage, however, some people may have enough capital to buy their initial share outright. Either way, we recommend that all people looking to buy their home through shared ownership speak to an independent financial advisor who is familiar with shared ownership schemes and can point them in the right direction. If you are looking to purchase with a mortgage, there is information on credit checks and how lenders score your credit rating along with some useful links towards the bottom of this guide.