Adrian Moloney | 08.12.2020
We hope you’re enjoying our series of shared ownership articles so far. Today we examine why finding the right lender is crucial to ensuring you can help your specialist clients find the right mortgage for them.
Not all lenders offer shared ownership mortgages, and even fewer are targeted at the specialist mortgage market, so if your client has a less than perfect credit score, or are self-employed, for instance, you may struggle to find them a mortgage from a high street lender.
In the current climate, many lenders are also limiting their LTVs, so buyers have to find larger deposits for shared ownership as well as houses on the open market. Those with only a small deposit could be struggling to find a lender that will take them on, and one that understands the ins and outs of the scheme.
When it comes to shared ownership, we really know our stuff and we have the products and criteria to help with specialist cases. What’s more, we don’t credit score – instead we look at the whole case holistically, to form an independent and human view of the client.
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Three things to consider for your next shared ownership case With the nation being forced to spend the most part of last year indoors, the dream of becoming a homeowner and having your own space remains a priority for many aspiring first-time buyers.
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