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

100% shared ownership mortgages and great 90% open market deals

20th January 2012

We now have access to 100% shared ownership mortgages. Customers can access zero deposit mortgages for part buy part rent but they must have no adverse credit history. More details here. We have also cut our open market 90% exclusive discount rate with no fees or early repayment charges. Read about our 10% deposit option for young professionals and first time buyers.

Shared ownership 2012

9th January 2012

We look forward to an exciting year for first time buyers in 2012. At Share to buy, we are optimistic that 2012 will bring new products and opportunities in shared ownership and affordable housing. As always, we will reguarly be adding properties tn our shared ownership property website. We also hope to bring forward exciting new mortgages for part buy part rent and open market first time buyer 90% mortgages.

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

 

Tools