Buying property with family

An introduction to family mortgages

More and more first time buyers are buying property with family members to get on the property ladder. At www.sharetobuy.com we have created the 'share to buy mortgage', a tailor-made service for taking out joint mortgages with friends or family members that includes:

  • Exclusive shared mortgages that are not available anywhere else, such as our Share to Buy Exclusive with Britannia that will take not just one or two, but three or four incomes into account. This is generally available for buying property with friends rather than family members, but we have many other family mortgages available for those looking to take out a joint mortgage with a parent or other family member.
  • In addition, we have a broad range of lenders on our panel including the 'high street' names and specialist providers, and our focus on shared mortgages with family members means that we have built up considerable experience of how different lenders will treat family members buying property together. For example, it is common in family mortgages for retirement age to be an issue and we have lenders on our panel who are flexible on this issue.
  • We provide a free and comprehensive joint ownership legal agreement to cover the key issues of taking out a joint mortgage with friends or family members, of course, is optional and you may feel that this is not required for a family mortgage as it would clearly be when buying property with friends.
  • For all of the above shared mortgage services we do not charge a fee at any point - we know that it can be hard enough for first time buyers raising the money to buy a house!

Got a legal query on joint mortgages with family members? Contact our panel of solicitors with specialist knowledge of joint ownership cases, such as friends and family members buying together.

Next steps

If you have had an offer accepted on a specific property or are looking at properties in earnest you may wish to submit a no fee, no-obligation agreement in principle application to see how we could assist. Alternatively, if you have any queries on the legal side of buying with family members, such as the legal position of a guarantor, please contact our partner solicitors who specialise in joint ownership legal services. There is no charge for sending an initial query and no obligation to use our partner solicitor.

Latest News

Search for shared ownership mortgages!

18th May 2012

We are pleased to announce the launch of our brand new shared ownership mortgage price comparison site. We are making our site more transparent than ever, showing in clear detail the choice of mortgages available for a purchase with the part buy part rent scheme. Start searching or click on the headline for the full press release.

Shared ownership properties for sale

16th May 2012

Are you looking for properties for sale through the shared ownership scheme? These are homes where you part buy part rent, meaning that your initial deposit and potentially your monthly payments are somewhat lower than in a normal house purchase. Look no further! We have shared ownership  houses and flats available on the part buy scheme across England. Search our property portal or register for alerts.

For more information go to the share to buy home page.

 

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