Glossary of Shared Ownership Mortgages Terms:
This glossary will help you to understand the different terms that relate to a shared ownership mortgage.
Shared Ownership Mortgage
This is simply explained as a mortgage where you part buy and part rent a property. Shared Ownership Mortgage schemes usually involve your Government run housing association.
Staircase/ Staircasing
Staircasing is when you buy additional percentages of a shared ownership property. You often buy in proportions of 25% until you reach 100%.
Homebuy
Is a Government funded scheme providing affordable and low cost housing, namely all types of Shared Ownership Mortgages.
Homebuy Agent
A homebuy agent will assess your eligibility and provide you with details of schemes in your area that are suitable for you.
New Build HomeBuy
New Build HomeBuy is another term for a traditional shared ownership scheme (or a part buy, part rent scheme) where you can part buy, part rent and can staircase your ownership in the property.
Open Market HomeBuy
A new scheme set up by the Government, where you by 75% of a property and then receive two equity loans of 12.5% from the mortgage lender and the Government or homebuy agent, respectively.
Shared Equity
The difference between this part rent, part buy scheme and others is that you do not pay any rent on the remaining amount, but the percentage of the property that you are expected to buy usually ranges from 60 - 75%. There are usually strict rules that come with this kind of 'new build home buy', and some in fact rule out staircasing.
First Time Buyers' Initiative
This is a Shared Equity scheme that helps first time buyers who are eligible, to buy a share in a new home, but they must buy at least 50% of the property and then a Government run agency called English Partnership will retain the rest.
English Partnership
This is a national regeneration agency, which help the Government to support high quality sustainable growth schemes in England. This involves unlocking and increasing the land available for housing and growth needs, creating and supporting mixed communities where people enjoy living and working and improving and enhancing the quality of life through innovation and raising standards.
About Shared Ownership Mortgages
Shared Ownership Mortgage Hints & Tips
Checkout our Mortgage
Tool Kit, it has all the resources and information to help buy
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Shared Ownership Basics
Shared Ownership Guide
Shared Ownership Types
Shared Ownership Lease Entitlements
Shared Equity Mortgages
Key Worker Mortgages
Shared Ownership HomeBuy Mortgages
Social HomeBuy Mortgages
New Build HomeBuy Mortgages
Open Market HomeBuy Mortgages
Shared Ownership Staircasing
Shared Ownership Mortgage FAQs
Shared Ownership Glossary
Shared Ownership Resources
Shared Ownership Mortgage - Why Use Us
Shared Ownership Mortgage News
Click n go Mortgages can find the right Shared Ownership Mortgage for you. We will help you to compare the Shared Ownership Schemes available and make sure that the you can find the most affordable Shared Ownership Mortgage for you. We can also advise you on where you can find a Shared Ownership Property. Our service is free and comes from years of experience, which guarantees that you will get the best possible advice.
05/11/07
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Rock Bottom
It appears that Northern Rock really have hit ‘rock bottom’, with news today published that Bank of England has leant Northern Rock a massive £23billion or £730 from each of us, the British tax payers.
12/01/07
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Rush for fixed-rate remortgage
As the Bank of England put up interest rates last week, there has been a rush for fixed rate remortgages the Financial Times reports.










