Shared Ownership Mortgage Guide

Click n go are mortgage specialists who understand that everyone has different needs and that at times, getting that first foot on the rung of the property ladder is sometimes difficult, so have a wealth of knowledge and mortgages to help you.

Please be aware that housing associations may not be able to offer you a choice of all shared ownership mortgages on the market, speak to your broker who will advise you on the best shared ownership mortgage for your circumstances.

A Shared Ownership Mortgage can help you to enter into the local government and housing association run shared ownership scheme and help you to own your first property. The housing scheme allows you to partly own a property, whilst paying rent for the other percentage of the property which is owned by a separate party – usually your local council.

Shared Ownership Mortgages work on a percentage basis, allowing you to enter into a shared ownership mortgage of anywhere between 25 – 100%. Shared Ownership is making housing affordable.

Shared Ownership is potentially available to everyone; however some Housing Associations may reserve a percentage of their properties solely for Key Workers.

Shared Ownership is also available to Key Workers for example;

• Clinical National Health Service (NHS) staff (with the exception of doctors and dentists)
• Teachers and nursery nurses in schools and further education/sixth form colleges
• Police officers, Community Support Officers (CSO) and some civilian police staff
• Prison officers
• Probation Service staff
• Social workers, nursery nurses, educational psychologists, and therapists (e.g. occupational therapists) employed by local authorities, Children and Family Court Advisory and Support Service (CAFCASS) or the NHS
• Local Authority Planners and Environment Health Practitioners
• Firefighters and other uniformed staff below principal level in Fire and Rescue Services
• Connexions Personal Advisors employed by a local authority or a Connexions Partnership
• Ministry of Defence (certain personnel)
• Highways Agency Traffic Officer staff in safety critical roles within the Traffic Officer Service

There are many shared ownership properties available, but you will need to talk to your local housing associations to see whether you are eligible to qualify for a shared ownership houses and flats and to check general availability in your area.