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It's Free to Speak to an Advisor, 7 days, 8am - 10pm
Shared Ownership was launched to provide support to applicants who are struggling to afford a full mortgage. The scheme lets you purchase a percentage of a mortgage ranging from 25%-75% or even 10% of the property.
You will be required to pay rent to the Housing Association/Builder because you have only taken out a percentage of the mortgage. This way, you are paying back the remaining percentage of the property. If you want to speak to a Shared Ownership mortgage advisor in Sheffield, feel free to book a free appointment and find out more.
Firstly, we will need to make sure that you are qualified for the scheme before accessing it. If you don’t meet the requirements of the scheme, we recommend looking at other options like the Help to Buy Equity Loan. Below shows some of the requirements:
Check out the video below if you are wanting more information on Shared Ownership mortgage advice in Sheffield as well as looking at our Shared Ownership FAQs further down the page.
If you’re in search of a Shared Ownership mortgage in Sheffield, the expertise of mortgage advisors in Sheffield can be immensely valuable. We are here to navigate you through the entire journey, identifying optimal deals and tailoring options to your specific needs.
As your open and honest mortgage broker in Sheffield, we will also assist you in fully understanding the terms and conditions of the mortgage, trying to secure the most favourable arrangement available.
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4.95 Rating225 Reviews
Sean
leo & stacey have been amazing helped us get a mortgage and put any worries or stress to ease highly recommend
1 week ago
Christopher
Very good service from Malcolm and Paula. Malcolm explained the whole process to me (a first time buyer), and found a good mortgage product for me. Paula then handled my application through to it being approved. They kept me informed at all stages...
2 weeks ago
Eleni
Both Jason Loft and Debbie Stones have provided excellent service and were very informative and supportive through all the steps of the process. I would highly recommend them for anyone looking to buy a house but don’t know where to start. 10/10...
3 weeks ago
Delton
Really great service discuss everything possible. Second time of using them and will use them again.
1 month ago
Rachel
Second time I have used Sheffield moneyman. They are a straightforward brokers, explain different options to you. Always keep you updated every step of the way. Would recommend this company.
1 month ago
Julie
Absolutely amazing . Helped when others weren’t very helpful even with plenty of obstacles along the way. Their knowledge of everything was brilliant. Kept in touch all the way .Honestly can’t recommend them highly enough. Thank you so much...
2 months ago
Millie
Excellent service every time!
2 months ago
Kashif
Great service from start to finish from Chris and his team. Looked after us and supported us through the whole process. They went above and beyond to get us the best deals and have been with us through every step in our journey. Can’t thank...
2 months ago
Mr Matthew
Wayne Dewsbury was very helpful from the first meeting. He managed to secure a mortgage at a lower rate than other brokers had offered. The support team were equally helpful in getting everything checked and submitted. Would definitely use UK...
3 months ago
Jake
Great service from initial enquiry through to offer
3 months ago
Jenny
Chris and the team have been absolutely brilliant at helping us understand the process of buying our first home and everything that comes with it! We never had to wait long for answers to any of our questions and felt in safe hands from start to...
3 months ago
Laura
We were first time buyers and have just completed on our house thanks to the brilliant help we received from Jason! We had a lot of questions and Jason was incredibly helpful and understanding, we really couldn't have got through this process...
3 months ago
Joseph
Great service from Tom and the team. Advised me on the best options for me and checked all the documents thoroughly before application to give me the best possible chance of approval. Would recommend.
3 months ago
Anonymous
Quickly got me a great offer.
3 months ago
Jake
Matt was great with us through a long, drawn out process. Flexible hours and always on hand and helpful, despite us going for and losing out on multiple properties. Thoroughly recommend, we have saved money and time through his help.
4 months ago
Carlie
From start to finish, our case was handled impeccably well. Jason and Chloe have been fabulous and I'd absolutely recommend Sheffieldmoneyman to everyone I know. Great communication, quick turnaround and lovely people. We won't be going anywhere...
6 months ago
James
Charlie was brilliant, he kept us informed at every stage. He was even willing to step in and help out when our Estate Agents were applying pressure.
6 months ago
Sarah
We would highly recommend UK/Sheffield money man to anyone! Charlie couldn’t have been more helpful, and as first time buyers he put us at ease throughout the whole process, always going above and beyond for us!! Thanks so much Charlie
6 months ago
Dawn
I definitely recommend this service, they do all the work and so it's a seamless , stress free transition . They give you great advise and discuss all the options available giving you some peace of mind. They search for the best price and nothing...
7 months ago
Katharine
Jo, Kerry and Charlie have been brilliant. Very attentive, informative and able to work quickly and effectively when our situation chopped and changed. 10/10 would use again if needs be. Highly recommend.
8 months ago
Shared Ownership is a government-backed scheme designed to help people in Sheffield and throughout the UK get onto the property ladder when they may not be able to afford to buy a home outright.
Obtaining a Shared Ownership mortgage in Sheffield with bad credit can be more challenging, but it’s not impossible. Like standard mortgages, your eligibility will depend on the severity of your bad credit and the specific lender’s criteria.
During your free appointment with a mortgage advisor in Sheffield, they will evaluate your income and expenditure to determine your eligibility for a Shared Ownership mortgage in Sheffield, as well as assess your mortgage affordability.
Our team will conduct a search of 1000 mortgage products to identify the most suitable option for you.
Once your purchase offer is accepted, we will submit your complete mortgage application and supporting documents to the lender.
Our service extends beyond simply securing the best mortgage deal for you. We also offer recommendations for insurance policies that will protect you and your loved ones.
Our experience in the mortgage industry has allowed us to help a plethora of applicants to start their Shared Ownership journey. Your free appointment with one of our advisors in Sheffield will include a thorough explanation about the scheme and see if you are eligible for the scheme.
We will be by your side throughout the mortgage process with your dedicated Shared Ownership Mortgage Advisor being there to answer any questions you may have.
Our brilliant customer reviews show how important it is for us to provide a 5 star service! Check out the customer reviews we have received to see how others have found our service.
We understand all our customers are different in what they are looking for as well as their lifestyle. This is why we are available at flexible operating hours to fit around you.
This means you can book a free mortgage appointment with a Mortgage Advisor in Sheffield during the evening or on weekends.
Along with this, you can book whenever is best for you online. Our online booking system means you can find a time and date for your free mortgage appointment. We have appointments available 7 days a week.
Booking is easy! Simply follow our ‘Get Started’ process to choose the date and time best for you.
We have connections with a range of lenders all providing different products. This allows us to look at both high street and specialist lenders. Our team can find you the product that is appropriate for your circumstance.
With many years of industry experience under their belt, our Mortgage Advisors in Sheffield have experienced different kinds of mortgage situations. Therefore, don’t hesitate to get in touch if you feel your situation is complicated, it’s very likely we have encountered it before!
Yes, you do need a deposit. This is something applicants believe isn’t required for a Shared Ownership mortgage. Like many mortgage types, it’s very likely you will be required to put a down deposit.
As mentioned, a Shared Ownership mortgage is where you are taking out a mortgage on a percentage of the property, therefore, requiring you to put down a deposit. The deposit can vary based on the property percentage.
For example, if you are looking at a property that is valued at £300,000 and are taking on 50% mortgage share, you will need to put down a deposit of £7,500 of the property. You would be on a 95% loan to value if you put down a 5% deposit on this amount. You will have access to more deals when you put more deposit down and can also lower your monthly payments.
When taking out a Shared Ownership mortgage, you will have to allow for mortgage costs and your rent costs. The costs will be set out as a regular monthly cost, just like other mortgage payments. Along with this, you will be paying background rent and service charges because all Shared Ownership homes will be leasehold.
As well as this, you may want to look at getting a property survey carried out. This is helpful as it can flag up any problems with the property which could potentially decrease the property’s overall value.
There are only a number of selected properties that are available through the Shared Ownership mortgage. The types of properties include new build properties, a property that is already under shared ownership and is being resold and homes that meets specialist needs like a ground floor flat for someone with a long-term disability.
These details will be explained by your dedicated Mortgage Advisor in Sheffield. All our new/existing customers are offered a free mortgage appointment so book yourself in to begin the Shared Ownership process.
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Sheffieldmoneyman.com & Sheffieldmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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Sheffieldmoneyman.com & Sheffieldmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk
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