Where can i get a good shared ownership mortgage? Im a first time buyer and out of my depth with info?
Saturday, March 6th, 2010 at
7:05 am
Looking to do a 50/50 mortgage as I have no other option, do you need a deposit? How much are solictors fees roughly?
Quick Property Sale
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Tagged with: First Time Buyer • Mortgage Buyer • Shared Ownership Mortgage
Filed under: mortgage
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YIKES!
Be incredibly careful!!!
Those types of shared ownership can be devastating. My brother was in one for a few years, and he lost. Especially after the other half owner got divorced.
You state you have no other choice. That is wrong, wrong, wrong. There are knowledgeable agents who can help you if you have any good chance of honoring the contract. In other words, if you are high risk for a loan, there is a reason: You could default. You will lose and the lender can lose a lot more.
Speak with a competent agent. If you do not like his answers, contact another one.
Prepare for the purchase and use wisdom, not emotion.