{"id":4761,"date":"2023-04-16T15:57:38","date_gmt":"2023-04-16T15:57:38","guid":{"rendered":"https:\/\/profilecapital.co.uk\/?page_id=4761"},"modified":"2023-09-25T13:45:19","modified_gmt":"2023-09-25T13:45:19","slug":"shared-ownership","status":"publish","type":"page","link":"https:\/\/profilecapital.co.uk\/?page_id=4761","title":{"rendered":"Shared Ownership"},"content":{"rendered":"

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\n Share<\/span> the Responsibility <\/h2>\n <\/div>\n\t\t\t\t\t<\/div>\n<\/div>[\/vc_column][\/vc_row][vc_row full_width=”stretch_row_content” css=”.vc_custom_1695231839315{margin-top: 50px !important;background-image: url(https:\/\/profilecapital.co.uk\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-07-21-at-14.51.33.jpeg?id=5059) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column][vc_empty_space height=”500px”][\/vc_column][\/vc_row][vc_row content_text_aligment=”center”][vc_column][vc_column_text]<\/p>\n

Shared Ownership<\/h3>\n

What is shared ownership?<\/b><\/p>\n

Shared ownership is a type of mortgage. In contrast to a residential mortgage, you acquire a share rather than the entire property. On your portion, you\u2019ll make a mortgage payment, and on the remainder, rent payment.<\/p>\n

Saving up a sizeable down payment can be challenging if you are a first-time buyer. Shared ownership mortgages can be useful in this situation. Housing Associations provide these mortgages, which are also referred to as \u201cPart Buy, Part Rent\u201d mortgages.<\/p>\n

With the help of a housing association, you might be able to own 25% to 75% of a property while renting the remaining portion. All you must have to get going is a 5% down payment on the portion of the house you\u2019re buying.<\/p>\n

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Shared Ownership Mortgages are aimed at people who reside in the UK who are?<\/h3>\n
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  • First-time buyers<\/span><\/li>\n
  • Former homeowners who\u00a0currently cannot afford\u00a0to purchase<\/span><\/li>\n
  • Those who already reside in Shared Ownership Housing.<\/span><\/li>\n
  • Tenants of council or housing association properties.<\/span><\/li>\n
  • Households with annual incomes under \u00a380,000. If you reside in London, the upper limit increases to \u00a390,000.<\/span><\/li>\n<\/ul>\n

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    How can I obtain a Shared Ownership Mortgage ?<\/h3>\n

    Prior to obtaining a Shared Ownership Mortgage, you must apply for and be accepted into the Shared Ownership Programme.<\/p>\n

    Typically, you will be asked for information about your income, spending plan, chosen location, and credit history.<\/p>\n

    Following your acceptance, you can begin the Shared Ownership Mortgage application process. Before applying, be sure your lender offers this type of mortgage because not all do.<\/p>\n

    You must disclose details about your household’s income and credit history in order to be approved for a mortgage.<\/p>\n

    Your ability to borrow money typically depends on:<\/p>\n

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    • Your earnings<\/li>\n
    • Services fees<\/li>\n
    • Floor rent<\/li>\n<\/ul>\n

      [\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

      [vc_row][vc_column][\/vc_column][\/vc_row][vc_row full_width=”stretch_row_content” css=”.vc_custom_1695231839315{margin-top: 50px !important;background-image: url(https:\/\/profilecapital.co.uk\/wp-content\/uploads\/2023\/08\/WhatsApp-Image-2023-07-21-at-14.51.33.jpeg?id=5059) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column][vc_empty_space height=”500px”][\/vc_column][\/vc_row][vc_row content_text_aligment=”center”][vc_column][vc_column_text] Shared Ownership What is shared ownership? Shared ownership is a type of mortgage. In contrast to a residential mortgage, you acquire a share rather than […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4761","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/4761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4761"}],"version-history":[{"count":18,"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/4761\/revisions"}],"predecessor-version":[{"id":5367,"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=\/wp\/v2\/pages\/4761\/revisions\/5367"}],"wp:attachment":[{"href":"https:\/\/profilecapital.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}