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© 2018 by Urban Sticks.co.uk. Proudly created with Wix.com

Whatever type of mortgage you are looking for, we have professional advisers that will help and guide you through the whole process. Why not get in touch for a free consultation?

0800 612 8322

Call us! 0800 6128322

Shared ownership?

First time buyer?

 Remortgage? 

Home mover?

Buy to let?

A QUICK GUIDE TO SHARED OWNERSHIP

Business Meeting

SHARED OWNERSHIP

Shared Ownership allows you to purchase a share of a property, typically this is between 25% and 75% initially. The share is determined by an affordability assessment where the share % purchased is assessed as affordable to you. The housing association will own the share you do not purchase and you will pay rent at a reduced rate to them.

This option means that you will require a smaller mortgage and in most cases you can purchase with a smaller deposit.

As soon as you are able to afford to purchase more shares in the property, you may do so. The rent payments are then reduced until you own 100% and then there will be no rent to pay to the housing association. 

 

SHARED OWNERSHIP ELIGIBILITY

To be eligible for a shared ownership property you must meet the criteria set by the Government.

The main points to consider are that your household income must not exceed £80,000 per year, although this is increased in London to £90,000 per year.

You must be a first time buyer, a current shared ownership property owner or (in some cases) where your are not able to purchase on the open market due to affordability.

If you are a member of the British Armed Forces, you would normally receive priority for a shared ownership property. 

 

SHARED OWNERSHIP MORTGAGES

As specialists in Shared Ownership mortgages,  we carry out extensive research with many lenders so that we can give you the best advice for your needs and circumstances. We ensure that your buying process is as stress free as possible and  explain everything to you in plain English. There are many things to consider when arranging your mortgage for your shared ownership purchase. There are different ways you can pay back your mortgage for instance, fixed rates, tracker rates and variable rates. Each recommendation is based on your circumstances and needs and is only given once we have fully assessed your current situation and future plans.  

WE SPECIALISE IN SHARED OWNERSHIP MORTGAGES, HOWEVER THAT IS NOT ALL WE DO.

Mortgages for the following options are all available with Urban Sticks Mortgage Solutions.

Remortgages

Home mover 

Buy To Let Purchase and Remortgage

Help To Buy Remortgages

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

PROTECTION

Now that you have purchased your dream home, it is extremely important to be able to keep it should anything unexpected happen in your life.

If the unthinkable were to occur and you could not work due to ill health, an accident, loss of income or even in the event of death, how would it affect you or your family's ability to continue to pay the mortgage and bills on your current level of savings?

Most people see "insurance" as a waste of money, or think "it will never happen to me." Part of the home buying process is to complete a full financial review, it will then be apparent the level of income you will require to continue living in the manner which you are planning.

The types of protection that could be available to you should a claimable event occur are but not limited to:

Life Cover- Lump sum payable on death.

Critical Illness Cover- Lump sum payable on diagnosis of specific illnesses.

Income Protection- Pays a monthly income, if you are unable to work following an accident or illness.

Family Income Benefit- Provides an income for your family in the event of death.

Buildings and Contents- provides cover for your home and your belongings.

We are able to refer you to our specialist partners to make a suitable recommendation for your protection after assessing your needs, suitability and budget.

ADDRESS

Unit 43 

Basepoint Business Centre,

Victoria Road,

Dartford,

Kent. 

DA1 5FS

CONTACT US

PLEASE COMPLETE THE FOLLOWING CONTACT FORM INCLUDING A BRIEF MESSAGE OF YOUR REQUIREMENTS:

TO SPEAK WITH AN ADVISER, PLEASE CALL OR EMAIL US:

Email: enquiries@urbansticks.co.uk

Tel: 0800 612 8322

Mob: 07798 706083

Urban Sticks Mortgage Solutions Ltd is an Appointed Representative of the Right Mortgage Ltd, which is   authorised and regulated by the Financial Conduct Authority (FCA), The FCA does not regulate some forms of Buy To Let Mortgages.

The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.

There may be a fee for mortgage advice, The precise amount will depend upon your circumstances but typically this will be £495.

Urban Sticks Mortgage Solutions Ltd registered in England and Wales, Company Registration No 10680763.

Registered Address, Unit 43, Basepoint Business Centre, Victoria Road, Dartford, Kent, DA1 5FS.