2 year discount shared ownership 90% LTV [SD25]
Discounted until 30/11/2019.
Early Repayment Charges apply.
This product may be withdrawn at any time.
Product key features
There is a minimum mortgage amount of £50,000.
This product has a maximum mortgage amount of £250,000.
The maximum loan to value for this product is 90% of the share of the purchase property.
The mortgaged property
Shared ownership products are available up to 90% loan to value on both new build houses and apartments of no more than five storeys. Your client must purchase a minimum property share of 25% or a maximum property share of 75%.
Applications can only be considered where the Housing Association permits additional borrowing, or 'staircasing', up to 100% of the property value.
There is a minimum property value of £100,000 for this product. This increases to £250,000 for properties located within the M25 corridor.
Interest rate floor
The interest rate is floored and cannot fall below 2.99%.
Mortgage repayment terms
The minimum repayment term is 5 years and the maximum repayment term is 35 years.
Early Repayment Charges
Your client can pay up to 10% of the original mortgage amount each calendar year without charge. If the amount repaid exceeds this limit, including at redemption or switching products they will be liable for an Early Repayment Charge.
Your clients Early Repayment Charge will be:
- 3% of the amount repaid until 30/11/2017;
- 2% of the amount repaid until 30/11/2018; and
- 1% of the amount repaid until 30/11/2019.
Here to help you
- Talk about your clients needs
- Help with your existing cases
- Discuss our lending criteria
- Discuss affordability
Your home may be repossessed if you do not keep up repayments on your mortgage.