Shared Ownership spells the end for Big Brother Style Bust-ups
Shared Ownership Mortgages could spell the end for Big Brother style bust-ups as the Government champion the scheme to help first time buyers onto the property ladder.
Previous house buying meant first time buyers who couldn’t afford to buy on their own, so bought with friends which, in some cases, lead to Big Brother style bust-ups and crying, which until that time only seen in the diary room.
In line with the new scheme, the Cheshire Building Society is now offering a shared mortgage ownership, which it hopes will bring hope to many first time buyers looking to get onto the property ladder.
Although buying and living with friends can seem like the perfect solution to getting onto the property ladder, the ‘reality’ can be a lot worse, as Big Brother demonstrates.
The shared ownership scheme is there is help first time buyers to get onto the property ladder gradually as well as reap the benefits as the value of a house increases.
The Cheshire Building Society fixed rate shared ownership mortgage is going to give first time buyers the help that they need to get onto the property ladder. The rate starts at 6.8% for the first three years and then increases to a standard variable rate. In addition, they have waved the arrangement fee and the standard valuation fee. The Cheshire shared ownership mortgage also allows payment holidays and the ability to overpay during the course of the loan.
The loans are available up to 100% of a share in the property and 75% of the value of a property. If you are interested in a shared ownership mortgage, then contact us and we can walk you through everything that you need to know.
