This is a scheme developed to help people to get their feet on the property ladder, even if they can’t afford to buy a whole property outright. Shared ownership allows you to own a leasehold ‘share’ in a property from a landlord – usually a Housing Association – and you pay rent to them on the remainder. You can normally increase your share in the property, decreasing the rented part, as time goes by and if your financial situation improves. This is called ‘staircasing’ and can help you eventually own 100% of the property.
To Apply:
To apply for a mortgage in conjunction with a shared ownership scheme, you will need to visit your local branch.
Below are some examples of the Government schemes we participate in to help first time buyers get onto the property ladder
FirstBuy Equity Loan This scheme is only for First Time Buyers purchasing new-build properties. Unlike with shared ownership, with an equity loan the first time buyer owns the property, with as little as a 5% deposit. A mortgage in conjunction with an equity loan typically covers 75% of the property price, with the equity loan covering 20% and the first time buyer’s deposit covers the remainder.
HomeBuy Direct The Government’s HomeBuy Direct scheme is open to households earning less than £60,000 a year that would otherwise be unable to buy. With HomeBuy Direct, you can get help to buy a property on certain developer sites through a loan of up to 30% of the property’s value.
To find out more about the equity loan schemes we participate in and to apply for a mortgage in conjunction with any of these schemes, you will need to visit your local branch.
This is where a local authority property is offered for sale to the tenants.
To apply for a mortgage in conjunction with the Right to Buy scheme, you will need to visit your local branch .
Nationwide is supporting the Government’s NewBuy scheme, launching on 12 March 2012, which is designed to help customers buy a new build house or flat with a 5-10% deposit. As a responsible lender, Nationwide caps lending at 95% LTV at £250,000. This limit will apply to mortgages under the NewBuy scheme.
Nationwide is working with selected builders to offer mortgages under this scheme and you can apply for a NewBuy mortgage through intermediaries only.
To find out more, visit Affordable housing schemes for first time buyers Shared Ownership This is a scheme developed to help people to get their feet on the property ladder, even if they can’t afford to buy a whole property outright. Shared ownership allows you to own a leasehold ‘share’ in a property from a landlord – usually a Housing Association – and you pay rent to them on the remainder. You can normally increase your share in the property, decreasing the rented part, as time goes by and if your financial situation improves. This is called ‘staircasing’ and can help you eventually own 100% of the property. To Apply: To apply for a mortgage in conjunction with a shared ownership scheme, you will need to visit your local branch. Equity loan schemes: Below are some examples of the Government schemes we participate in to help first time buyers get onto the property ladder FirstBuy Equity Loan This scheme is only for First Time Buyers purchasing new-build properties. Unlike with shared ownership, with an equity loan the first time buyer owns the property, with as little as a 5% deposit. A mortgage in conjunction with an equity loan typically covers 75% of the property price, with the equity loan covering 20% and the first time buyer’s deposit covers the remainder. HomeBuy Direct The Government’s HomeBuy Direct scheme is open to households earning less than £60,000 a year that would otherwise be unable to buy. With HomeBuy Direct, you can get help to buy a property on certain developer sites through a loan of up to 30% of the property’s value. To Apply: To find out more about the equity loan schemes we participate in and to apply for a mortgage in conjunction with any of these schemes, you will need to visit your local branch. Right to Buy This is where a local authority property is offered for sale to the tenants. To Apply: To apply for a mortgage in conjunction with the Right to Buy scheme, you will need to visit your local branch . NewBuy housing scheme Nationwide is supporting the Government’s NewBuy scheme, launching on 12 March 2012, which is designed to help customers buy a new build house or flat with a 5-10% deposit. As a responsible lender, Nationwide caps lending at 95% LTV at £250,000. This limit will apply to mortgages under the NewBuy scheme. Nationwide is working with selected builders to offer mortgages under this scheme and you can apply for a NewBuy mortgage through intermediaries only. To find out more, visit www.newbuy.org.uk or speak to your builder.
To find out more, visit www.newbuy.org.uk or speak to your builder.