What am I entitled to when I have a shared ownership lease?

When you buy a house using a shared ownership mortgage scheme, the housing association will usually grant you a lease of around 99 years. You can then live within your home as an owner-occupier where you are entitled to further shares, which should be set out within your shared ownership arrangement. It also states, that you are entitled to sell your property.

The shared ownership scheme will also set out what your responsibilities are for repairs and payments and any service charges you are expected to pay. Although you will not own the property out-right, you have the normal rights and are liable should you not be able to meet the repayments of your shared ownership mortgage.

Click n go Mortgage can advise you on all aspects of a shared ownership mortgage and leasing terms, so contact us now for impartial advice on what is the best mortgage for you.