YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE PAYMENTS
Buying a shared ownership home is a great way to get onto the property ladder, but does have a very important additional layer — the percentage you rent.
These figures are only illustrative. All mortgages are subject to the applicant(s) meeting the eligibility of the specific lender. An assessment of your needs will be confirmed before a recommendation can be made.
How does it work?
Shared ownership schemes have additional costs to consider, largest of all is the rent, and this can be charged in different ways so you'll need to find that out with the estate agent, along with the ground rent and service charge, as usually these homes are leasehold.
Now you have that information, the calculator will partner it with the mortgage and give you your monthly expenditure.
Whats it for?
Having an overall understanding of what you'll actually be paying for a shared ownership home is going to reveal the actual cost, and not what is being advertised.
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