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  Shared Equity Mortgages   Builder Shared Equity Mortgage   100% Shared equity mortgage
 
Shared equity mortgages are different to shared ownership because there is no actual sharing of the property itself and some of the purchase price, the deposit, is provided by government funded loans or in some cases house builders.

The Home Buy Scheme will allow first time buyers to purchase a new or open market home but purchasers will only have to have a 50% mortgage. The remaining 50% owned by a Housing Association. A fee of 1.75% is added to the Housing Association part every year to be paid back when you sell or acquire the whole ownership.

Shared Equity is similar via housing associations where they provide the 25% deposit or sometimes 50%, funded via government scheme. These deposit loans do not require repayment until the property is sold.

Neither scheme charges rent, unlike shared ownership.

Mortgages for both schemes are available through Tricon including adverse credit schemes but you must seek approval from a housing association first for either scheme because there are certain requirements to be met before you can be offered the facilities in the schemes.

Properties themselves are not provided by the housing associations as are shared ownership but once the housing association approves you are free to look in the open market.

New Build Home Buy is the same as shared ownership.

Private shared equity schemes such as a house builder offering a 75 - 25% equity sharing can be mortgaged.

Once you have spoken to a housing association about Home Buy or Shared Equity please complete our enquiry form to find out if we can arrange a mortgage for you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We will charge you a fee of £695 for arranging and processing your mortgage the fee is not payable up-front and only if we obtain a mortgage offer for you.

 

 

  
Click on the following topics for helpful information, that could help you get your mortgage or remortgage

   adverse credit
   shared ownership
   shared equity
   self employed
   buy 2 let
   no age limit mortgages
   items required list
   home information packs


 
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Tricon Limited is Authorised and Regulated by the Financial Services Authority to arrange mortgages.

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