Mortgages for Shared Ownership Propeties

[Lex]

I've been shopping around for a mortgage on a housing association shared ownership property, but most of the lenders I've been to so far either can't lend me enough or show me the door. Is there a lender out there who will lend more than the normal 3.5x salary & not laugh me off the premesis?

[Shizara]

I know the feeling. When I first looked at buying in Nuneaton I went to a new housing estate. Was more or less shooed away because I was not a resident.

Hi

I know how you're feeling. The cost of living round here (I'm in Warwick) is a nightmare. However, my wife and myself got lucky three years ago, when Orbit offered us a nice little two-bed Shared-ownership house on the new estate by Warwick Racecourse.

We didn't have a deposit and most lenders turned us down. However, we scoured the internet and came up with the Kent Reliance Building Society: www.krbs.co.uk. They gave us a 100% mortgage on our 50% share. They were efficient and friendly and without them we'd still be throwing money away on rent.

I know what you're thinking - I'd never heard of them too, but give them a call, you may get lucky.

Originally Posted by Lex

I've been shopping around for a mortgage on a housing association shared ownership property, but most of the lenders I've been to so far either can't lend me enough or show me the door. Is there a lender out there who will lend more than the normal 3.5x salary & not laugh me off the premesis?