Shared Ownership & Shared Equity where are all the houses.

Most social housing is now built on mixed estates with private homes. Where developers have stopped building commercial projects, the social housing – including shared-equity homes – has suffered too. Shared equity mortgage Scheme allows you to buy 75% of a property and get a mortgage on the remaining 25%.

Housing associations buy up mixed developments so that they can help subsidise their social homes with private rents or from sales of private homes. With a virtual standstill in construction, many of the 1,900 housing associations are in big difficulty and are having to merge to avoid closure. About £500 million worth of social housing schemes has been mothballed this month alone.

Lenders are still very selective who they lend too. A shared equity mortgage is good option to help first time buyers get on to the property ladder.

If you want to know more about shared equity mortgage schemes, then contact Click n go Mortgages here.