At CRC Mortgages, we understand that getting onto the property ladder in Liverpool might seem daunting, especially for first-time buyers or those with limited deposits. Shared ownership mortgages offer a viable solution by enabling you to purchase a share in a property while renting the rest from a housing association, making home ownership a more achievable goal. Our experienced mortgage brokers and advisors in Liverpool are here to guide you clearly and professionally through every step of the process, helping you feel confident in your decisions.
What Is a Shared Ownership Mortgage?
A shared ownership mortgage allows eligible buyers to purchase between 25% and 75% of a property’s value, typically via a housing association. You’ll then pay rent on the remaining share, which the housing association continues to own. This solution significantly reduces the deposit required and can make monthly mortgage payments and initial upfront costs much more manageable for buyers.
Over time, you may choose to purchase additional shares in your property—commonly known as staircasing—not only giving you a greater stake in your home, but also potentially lowering your rental payments.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT
The FCA does not regulate some forms of Buy to Lets. Think carefully before securing other debts against your home/property.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £449 to £699 and this will be discussed and agreed with you at the earliest opportunity.
If you would like to speak with an adviser,
please contact us below.
Shared Ownership Mortgage Advice Liverpool
Our specialist shared ownership mortgage advisors in Liverpool have in-depth knowledge and experience handling every aspect of these particular mortgages. We will take the time to understand your individual circumstances, affordability and property aspirations before offering personalised mortgage advice tailored specifically for shared ownership properties.
We believe clear communication and expert guidance are key. Our mortgage brokers aim to support you fully, providing step-by-step explanations and enabling you to make informed decisions about your shared ownership mortgage.
Why Choose Our Mortgage Brokers Liverpool?
At CRC Mortgages, we are committed to providing our clients with friendly, professional mortgage advice delivered with integrity and clarity. As specialist shared ownership mortgage brokers based in Liverpool, we have comprehensive knowledge of the local housing market and can help you navigate the intricacies of shared ownership schemes associated with housing associations in the region.
We take pride in helping our clients secure appropriate shared ownership mortgage deals suited to their needs. Our experienced advisors will handle the paperwork, communicate clearly with lenders on your behalf, and strive to complete your mortgage application as efficiently and smoothly as possible, saving you valuable time and effort where possible.
Remortgaging Shared Ownership Properties Liverpool
If you already own a shared ownership property and your initial finance agreement period is due to expire, our mortgage advisors in Liverpool can assist you with remortgaging options. Whether you wish to purchase additional shares, switch lenders for a potentially cheaper rate, or restructure your mortgage terms, we can guide and support you carefully throughout the process.
Our experienced Liverpool remortgage brokers offer clear, professional guidance to help you understand any associated costs, potential savings and assure you maintain the best value from your shared ownership mortgage.
How Can CRC Mortgages Help You?
At CRC Mortgages in Liverpool, our focus is always on our clients. We aim to build long-lasting relationships through professional, transparent mortgage advice and ongoing support. Our brokers strive to provide a seamless experience wherever possible, supporting your shared ownership journey thoroughly from initial enquiry through to completion and beyond.
Whatever your financial situation or shared ownership goals, our mortgage brokers will approach your application with careful consideration, always keeping your best interests at heart. Our goal is to assist you practically, clearly, and effectively in getting you where you want to be—comfortably settled in your own Liverpool property.
FAQs – Shared Ownership Mortgages Liverpool
Who is eligible for a shared ownership mortgage in Liverpool?
Typically, shared ownership is available to first-time buyers or those who previously owned a home but cannot currently afford one. You must usually demonstrate your household income is below a certain threshold and meet affordability criteria.
What size deposit do I need for shared ownership?
A shared ownership deposit can often be around 5% to 10% of the initial share you buy, significantly less than a standard mortgage deposit.
Can I eventually own 100% of my shared ownership property?
Generally, yes, depending on the terms of your specific agreement. Most shared ownership schemes allow for staircasing—the process of purchasing additional shares—until you own the property outright.
Are there any downsides to shared ownership mortgages?
Shared ownership mortgages have many excellent benefits, but they may also involve paying ongoing rent plus service charges to your housing association. Reselling may involve specific stipulations under the scheme, so it’s important to carefully consider your options and take advice from an experienced mortgage advisor.
How do I apply for a shared ownership mortgage in Liverpool?
You can contact CRC Mortgages directly to discuss your eligibility and begin the application process. Our mortgage advisors will carefully guide you through the entire procedure, clearly explaining each step.
Contact CRC Mortgages today to speak with a friendly shared ownership mortgage advisor in Liverpool and take your first step toward home ownership.