| Friends | Families | Shared Ownership |
In association with:
Britannia exclusive – fee free tracker
Lifetime tracker: no fees or tie ins
Share to buy is an affinity partner of Britannia and we offer the following exclusive mortgage only available through sharetobuy.com:
- A variable rate which is 0.05% above Britannia's standard variable rate (SVR), currently 4.24%, for the lifetime of the mortgage, giving a current rate payable of 4.29%. The overall cost for comparison is 4.5% APR
- 85% loan to value with No Arrangement Fee, No Administration Fee, No valuation fee and No early repayment charges.
What does it mean that this product has 'no early repayment charges'? This means that there is no limit to overpayments, and most importantly, there are no penalties or tie-ins. So, if interest rates stay the same you will benefit from the current low rate, fee-free deal. If interest rates rise, you have the flexible option to switch to a Britannia fixed rate without penalty (or to a deal with any other lender).
Important criteria summary
- Minimum of two applicants, BOTH of whom must be graduates OR have professional qualifications (e.g. accountancy, law). Armed forces commissioned officers accepted.
- Available for open market PURCHASE ONLY and both first time buyers and home movers are acceptable. The product is not available for remortgages, second home purchase, buy to let or shared ownership with housing associations.
- Applicants can be a couple (married or otherwise), friends or family members but ALL applicants, up to a maximum of four, must reside in the property.
- Other mortgages and properties: if you have any buy to let or other residential mortgages that will remain outstanding, or any other properties that you own which will not be sold, you must put down a 25% deposit rather than the usual 15%.
- Income multiples: 3.75x two incomes or 2.5x all of 3 or 4 incomes. No adverse credit.
- Free valuation: this is only on the first property for which you apply, and not subsequent properties should the first fall through; and Britannia reserve the right to charge you for the first valuation if you withdraw from the purchase after the valuation has happened.
How to apply – next steps
If you wish to apply, please read the detailed product criteria and then you can produce your own key facts illustration for the share to buy exclusive.
Once you have downloaded a key facts illustration, if you wish to apply, you should complete an agreement in principle application. You will be asked what product and lender you wish to apply for and you should state 'Britannia exclusive'. On receipt of your agreement in principle application, we will NOT credit score your application but will confirm if it fits the general criteria of this product. If it does, we will approve the case in principle and enable you to submit a full application to Britannia at which point it will be credit checked and assessed by Britannia.
About share to buy
Share to buy is a specialist brokerage dedicated to helping people looking to share their next step on the property ladder. We don't charge any fees and although we are an affinity partner of Britannia we are also able to search the whole of the market.
The Britannia exclusive was first set up as a radical new product taking up to four incomes in to account, thus enabling young professionals to buy in groups of 3 or 4 instead of renting, but the product is also available for 2 applicants buying jointly. To find out more, read about our affinity partnership with Britannia on the Britannia website or read further information about share to buy.
Britannia is a trading name of the Co-operative Bank plc.
Share to Buy Case Studies
Next Steps
Read about the detailed criteria of our product; download a key facts illustration or apply for an agreement in principle on our exclusive fee-free lifetime tracker.
Mortgage Tools
- Mortgage calculator – see how much you could borrow alone or as a couple, with friends, family or on a shared ownership mortgage. A basic estimate.
- Mortgage illustration – you submit summary details for each applicant and a member of our team will reply with an estimate of your mortgage potential and provide an indication of likely repayments.
- Agreement in principle – you provide detailed personal information and we respond with detailed illustrations for a choice of specific mortgage products currently available in the market. If you like one of the products, you can then request a non-binding decision from the lender confirming whether they would agree in principle to lend you that amount, subject to valuation and income verification. This can be very useful to prove to a vendor or housing association that you are able to purchase a property.
Mortgage Information
- House Buying Process – including details of how to apply.
call us today
0845 686 0812
or email us with a time to call you
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Office hours 9am-5.30pm.
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