Luke Pummell, Direct Sales Manager, offers insight into what a mortgage actually is.
Shared Ownership could be the key to owning your first home.
The Shared Ownership scheme is a cross between buying and renting and allows the purchaser to buy a share in a property usually between 25% - 75% of the purchase price, and then pay rent on the remaining share. Also, you only need to pay a deposit on the part of the property you are buying, making it an affordable option to purchase a home with a lower deposit than if buying outright.
Our video explains what Shared Ownership is and how it could help you onto the property ladder.
We provide mortgages up to 95% on Shared Ownership, and:
- We guarantee you will always be able to speak to a person, not a computer and offer a free, no obligation meeting to discuss your needs
- We will consider your previous and current circumstances
- Our qualified mortgage advisers are available from Monday to Saturday and can also arrange telephone appointments to suit your commitments
Please note: Shared Ownership Mortgages are subject to the Society's lending criteria. Newbury Building Society's minimum age requirement is 21 and for UK residents only.
Best option for shared ownership! Newbury were so good at re-newing our mortgage offer. We had 18 months of delays getting into our new build shared ownership property. They kept our mortgage offer going throughout the delays. They are easy to get hold of and always helpful. They even sent us a moving in box which was so unexpected and made the experience of using them go above and beyond what we expected.
Mortgage appointments are available by video appointment, in branch or by phone. Find out more here.