Shared Ownership2018-10-04T10:19:30+00:00
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The many benefits of a shared mortgage and co-ownership

If you have spotted your dream home but then realise it’s out of your reach due to affordability or lack of deposit, it still may be possible through shared ownership.

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Co-ownership

There are currently two shared ownership schemes available in Northern Ireland. The most instantly recognisable and longest established is Co-Ownership, who have been helping people get onto the housing ladder since 1978. Co-ownership is a facility where you buy a share of your home (between 50% – 90% of the home’s value) and pay rent on the remaining share. For your share you’ll need to have a mortgage, which our adviser will arrange, along with helping with the Co-Ownership process.

The second shared ownership scheme available is called FairShare. It works in a similar way to Co-Ownership, whereby you purchase between 50% – 90% of your home’s value and pay rent on the remaining share. However it is only available on new builds and is restricted to 3 major housing associations – Apex, Clanmil and Choice. There are currently only 3 major UK mortgage lenders providing mortgages for the FairShare scheme and again our advisers will help you with all aspects of this.

This may only be the start of your journey. Further down the line you may be in a position to buy an increased share or indeed all of the Co-Ownership or FairShare elements. This process is known as staircasing and when you are ready to make this step our advisers will always be at hand.

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FIRST TIME BUYERS
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MOVING HOME
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REMORTGAGING
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CO-OWNERSHIP
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LIFETIME MORTGAGES

With 18 branches located all around Northern Ireland, you’re sure to find a local The Mortgage Shop near you! Visit us today for all your mortgage needs.

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Important information

The Mortgage Shop (NI) Limited undertakes credit broking and is not a lender. Think carefully before securing other debts against your home.  Your home may be repossessed if you do not keep up repayments on your mortgage. Typically we do not charge a fee for mortgage advice, however if we do, depending on your circumstances, it will be a maximum of £250. You may have to pay an early repayment charge to your existing lender if you remortgage.

BANBRIDGE

028 4066 2828
banbridge@themortgageshop.net

BALLYCLARE

028 9318 0002
darren.black@themortgageshop.net

BALLYMENA

028 2565 2222
ballymena@themortgageshop.net

BANGOR

028 9147 7475
michael.spencer@themortgageshop.net

BELFAST – ANDERSONSTOWN RD

028 9061 2000
daniel@themortgageshop.net

BELFAST – GREAT VICTORIA ST

028 9023 2002
julie@themortgageshop.net

BELFAST – HOLYWOOD RD

028 9065 7348
holywoodrd@themortgageshop.net

BELFAST – ORMEAU RD

028 9064 1602
n.crawford@themortgageshop.net

BELFAST – WOODSTOCK RD

028 9046 1133
woodstockroad@themortgageshop.net

CAVEHILL

028 9083 0550
sam.brown@themortgageshop.net

COOKSTOWN

028 8676 6497
cookstown@themortgageshop.net

CRUMLIN

028 9442 3291
stephen.corry@themortgageshop.net

GLENGORMLEY

028 9083 0550
glengormley@themortgageshop.net

DERRY-LONDONDERRY

155 Spencer Road
028 7131 1677
derry@themortgageshop.net

LURGAN

028 3834 4888
lurgan@themortgageshop.net

LISBURN

028 9266 4123
phil.convery@themortgageshop.net

NEWTOWNARDS

028 9181 4555
colette.mccoey@themortgageshop.net

PORTADOWN

028 3839 3826
philip@themortgageshop.net

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