We can help you get onto the property ladder with a Shared Ownership mortgage

If you’re struggling to save enough for a deposit you could still you could still get onto the property ladder through the Shared Ownership scheme. Whether you’re a first-time buyer or home mover, we could help you buy a share of between 25-75% of a property and then pay rent on the remaining share.

  • Available on new build and existing Shared Ownership properties
  • Minimum deposit of 5% required, but 100% mortgage options available on your owned share
  • Stair casing available to allow you to purchase additional shares in the future until you own 100% of the property
  • Options available even if you have bad credit

Getting one customer onto the property ladder through the Shared Ownership scheme

Mr and Mrs W wanted to move out of their council home and buy a larger property that could accommodate their growing family. They’d managed to save a deposit but couldn’t afford to buy a house in the area as prices were too high.

Plus, Mr W had previously been in a Debt Management Plan (DMP) and his income was in fact part of a benefit package as he was unable to work due to long-term health issues.

With Clever Mortgages, the couple was able to:

  • Take out a mortgage with a lender which would accept Mr W’s income
  • Buy a new family home using the Shared Ownership scheme
  • Put down a smaller deposit than they thought they’d initially need
  • Secure a 2 year fixed-rate mortgage so their circumstances could be reviewed and given the option to buy an additional share of the property
 BalancePaymentRateTerm
New mortgage£100,000£618.302.84%15 years

New Mortgage

Balance£100,000
Payment£618.30
Rate2.84%
Term15 Years

Mr and Mrs W needed a larger home to accommodate their family – however, house prices in the area were out of their reach. They were both happy with the suggestion of Shared Ownership and managed to buy a house which met their needs.

We approached a lender that was willing to take on their case and we worked together to make sure the monthly mortgage and Shared Ownership rent amounts were affordable. The couple were delighted to move out of their council home and will have their circumstances reviewed after a couple of years to see if they can buy more share of the property.

No obligation advice on buy-to-let mortgages

Try our Mortgage Calculator – let’s see what you could borrow

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Latest mortgage best buys

Based on a mortgage of £130,000 on a property worth £260,000

Initial rate
Overall cost for comparison
0.89% Tracker
then 3.7% (variable)
3.7% APRC

Fees and charges

  • Booking fee
    £0.00
  • Arrangement fee
    £999.00
  • Valuation fee
    £0.00
  • Other fees
    £1,326.00
  • Cashback
    £0.00

Other info

  • Exit fee
    £0.00

Flexibility

  • Overpayments allowed?
    Yes

Representative example
A mortgage of £130,000.00 payable over 25 years, on a ‘Tracker rate’ of 0.89% would initially cost £487.20 for 24 months. This would be followed by 276 monthly payments at a variable rate of 3.7% costing £686.93 per month. The total amount payable over the full term of the mortgage would be £201,302.48, made up of the loan amount plus interest and fees (£1,016.00). The overall cost for comparison is 3.7% APRC.
1.14% Fixed
then 3.3% (variable)
3.3% APRC

Fees and charges

  • Booking fee
    £0.00
  • Arrangement fee
    £999.00
  • Valuation fee
    £0.00
  • Other fees
    £540.00
  • Cashback
    £0.00

Other info

  • Exit fee
    £65.00

Flexibility

  • Overpayments allowed?
    Yes

Representative example
A mortgage of £130,000.00 payable over 25 years, on a ‘Fixed rate’ of 1.14% would initially cost £502.12 for 24 months. This would be followed by 276 monthly payments at a variable rate of 3.3% costing £658.94 per month. The total amount payable over the full term of the mortgage would be £193,983.32, made up of the loan amount plus interest and fees (£1,084.00). The overall cost for comparison is 3.3% APRC.
1.85% Variable
then 2.1% (variable)
2.1% APRC

Fees and charges

  • Booking fee
    £0.00
  • Arrangement fee
    £999.00
  • Valuation fee
    £0.00
  • Other fees
    £770.43
  • Cashback
    £0.00

Other info

  • Exit fee
    £125.00

Flexibility

  • Overpayments allowed?
    Yes

Representative example
A mortgage of £130,000.00 payable over 25 years, on a ‘Variable rate’ of 1.85% would initially cost £545.73 for 0 months. This would be followed by 300 monthly payments at a variable rate of 2.1% costing £545.73 per month. The total amount payable over the full term of the mortgage would be £163,852.00, made up of the loan amount plus interest and fees (£1,132.00). The overall cost for comparison is 2.1% APRC.

6 Great reasons to choose Clever Mortgages

Specialists in bad credit

Every member of our team is trained in bad credit situations and know how to find the right solutions for customers – helping them get the mortgage that’ll get them back on track.

Over 100 lenders

The number and quality of lenders we work with means we have access to a diverse spectrum of best-rate deals. The lenders we use means we have all areas covered – even for those in particularly niche circumstances.

Experts in bad credit

We have helped 1000’s of people with bad credit. All our advisors are trained on securing mortgages for clients with bad credit. In short, we know this market.

Access To Exclusive Rates

We have access to every adverse friendly lender, we can often secure you exclusive rates you can’t find on the high street.

First class support

We know that sorting out a remortgage can be stressful – but our experienced team of experts will have any questions you have along the way, and will always be proactive when it comes to keeping you in the loop with your application progress.

Excellent Reviews

We’re proud of our long-standing 5 Star Rating on Trust Pilot, and love all the positive feedback we get from customers every day. We feel privileged to help people get a great deal with far less stress.

Why use a mortgage broker for Shared Ownership mortgage?

Mortgage brokers can help you find the best deals on the market – not just from one lender. With a broker you’ll get:

  • Valuable knowledge, through years of experience helping customers to find mortgages
  • An improved chance at finding a mortgage, some mortgages are only available through a broker
  • Help with the application process, as usually just one application can be used across various lenders
  • Advice on how to improve your chances, for instance getting a guarantor or applying for a joint mortgage
About Clever Mortgages

We specialise in assessing an individual’s situation, and finding a best-fit mortgage solution for them. We can help:

  • With remortgages, buy-to-let, and first-time buyers mortgages. We have experts over all of these areas
  • Even if you’ve got bad credit – we help people every day with less than perfect credit histories to find the right mortgage
  • With applications, as we’ll take the hassle away. We require your details once and we’ll know the best lenders for your circumstance

Our team know the lenders that are most likely to say ‘yes’, and to give the best rates

What should I do next?

You enquire online with us today or give us a call
Our simple form takes a couple of minutes to fill in, this gets the ball rolling

One of our experts will give you a call to find out more about your situation
We have experts in remortgaging, who focus solely on helping customers save money

We do all the hard work for you
We search the market for the trusted lender that’s right for you

Our expert will get back in touch
We can guide you every step of the way, and we’ll always keep you up-to-date with progress

Speak to a broker

Christie Buck

Christie is a specialist mortgage broker, whose been working for Clever for 4 years. She has been in the financial industry for nearly 9 years which included assisting clients in financial difficulty setting up IVAs.

Call us on: 0800 197 0504

Below are some of the lenders we work with