shared ownership?

Question

can you get shared ownership is you have bad credit.

Answer 1

Yes. It may be you would have more trouble getting the mortgage part for the SO property based on your financial circumstances but there are specialist brokers out there who can help.

Answer 2

They will run credit checks to ensure that you will make the rent, as well as your bank manager to a credit check for your mortgage.

Perhaps speaking to them, and explaining your situation would help.. Or your local Citizen Advice Bureau regarding the best way around this situation.

For a mortgage there are companies that will lend you the money, but will charge a higher interest rate, appox around 7-9%.. just search the Internet for the best one for your needs. Also having a 'decent' (10%) will work in your favour!

Best of luck, I'm sure you will get on the property ladder soon enough!x

Answer 3

My husband and that i began our shared owenership 3 weeks in the past. experts: you're no longer spending a fortune on lease without return, we've foundthat the loan and lease blended is below we've been paying just to lease an analogous sized domicile in the previous and a minimum of this variety as quickly as we sell we get some money back. you have the liberty to beautify as you like you do no longer could desire to stretch to an entire one hundred% loan and not be waiting to locate the money for to stay You (oftentimes) supply you the prospect to purchase the different proportion it rather is a step up, in 5 or so years you are able to sell, with any luck make a splash money from what it fee and with any luck you may desire to have saved up some greater moeny so which you are able to purchase an entire domicile Cons: reckoning on who owns the different a million/2 you may desire to have issues- we very own 50% and 50% is owned by skill of a housing affiliation called Orbit who're an entire discomfort to touch, they held up the sale approximately 4 circumstances and fee an admin fee for each little thing! so which you may desire to be very careful once you decide on for to go a shared possession domicile isn't properly worth as much as a non shared possession domicile as there's a greater limited industry maximum shared possession homes are apartments as housing institutions build the apartments themselves(even nevertheless ours is a house) in my view i could say that for us it has worked somewhat properly, i could of direction quite very own an entire domicile yet as quickly as we had bought a one hundred% proportion of a house it could have not been as spacious or as marvelous as the place we are actually.

Answer 4

It would be more difficult to get a mortgage yes, but there are companies that can help you need to shop around.

Answer 5

I think not.

Answer 6

I don't think so

Answer 7

yes you can ....