Joint Mortgage

Our joint mortgage service

At share to buy we specialise in arranging joint mortgages, including our Britannia exclusive 90% product for graduates taking out a joint mortgage. We also have access to the broader mortgage market to arrange joint mortgages between two or more friends; joint mortgages between family members or 'traditional' joint mortgages for couples/partners (all of these categories can apply on our Britannia exclusive provided they are graduates or have professional qualifications). We don't charge any fees (unless the mortgage is less than £50,000, in which case we charge a £149 fee) and provide a free legal agreement covering some of the key legal issues of joint ownership. Since we launced in 2004, we have helped hundreds of first time buyers to take out a joint mortgage.

How we can help you

We cover the whole of the market but also have access to exclusive products not available anywhere else, and without charging a fee at any point we can arrange the following types of joint mortgage:

• Mortgages for friends clubbing together
• Couples/partners buying a new home
• Family members combining forces, e.g. a parent helping their son or daughter on to the property ladder.

Legal queries on joint mortgages - contact our panel of solicitors

With any joint mortgage all borrowers are jointly and severally liable for the whole loan and should consider taking out a legal agreement covering the relationship between the borrowers. At share to buy, we provide a free legal agreement covering these important issues, for example, setting out each person's share in the property. If you have any queries, we have a panel of partner solicitor firms who specialise in joint mortgage applications and are also familiar with the Share to buy legal agreement.

About Share to buy ltd – making housing affordable

Share to buy is dedicated to making affordable housing truly accessible online. At sharetobuy.com you can find affordable homes for sale and information on how to buy them. All the shared ownership properties we display come with a special budget tool to show you the potential monthly cost and required deposit. We also have an in-house mortgage team with huge experience in arranging mortgages for shared ownership including part buy part rent and shared equity, as well as joint mortgages for friends and family members. Finally, we are proud to offer our exclusive open market fee-free joint mortgages from Britannia. For all mortgages we arrange, we donate £10 towards helping homeless people. Register below to be kept up to date on our services, or explore our site using the Tools box beneath.

Shared Ownership Case Studies

Shared ownership in Northampton

Shared ownership in Islington, London

Latest News

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.

Firstbuy shared equity houses in Greater Manchester

16th March 2012

This is your chance to buy a share in a brand new 2, 3 or even 4 bedroom  house and yet own the whole thing from the outset. These lovely houses in Hyde, Manchester are available on the Firstbuy scheme, a Government sponsored shared equity affordable housing scheme that means you can put down a deposit starting from as little as £5,600. More detail here on the 2 bed house, 3 bed house and 4 bed house.

Follow our live property alerts and mortgage product news

Subscribe to our free e-newsletter updates. These include important updates on changes to our exclusive mortgages, as well as general news about the shared ownership market.

Tools

• Search: search for shared ownership properties; search for shared ownership mortgages; search for shared ownership solicitors.
• Calculators: shared ownership mortgage calculator; staircasing calculator; open market calculator.
• Apply: shared ownership mortgages; agreement in principle

Legal implications of joint mortgages

Taking out a joint mortgage has important legal implications. Each participant is jointly and severally liable for the whole debt. For this reason, you should always seek joint mortgage advice from a solicitor and ask them to explain the important matters. Joint mortgage loans are sometimes called ‘joint ownership mortgages’ or ‘joint equity mortgages’. However, whilst the equity and ownership shares are important, ultimately the fact that you are sharing a debt is most important to bear in mind. A key consideration is what should happen if one of the mortgage borrowers becomes unable to pay their share (e.g. through unemployment). In these circumstances, joint borrowers may wish to consider some form of joint mortgage insurance, e.g. payment protection insurance for their joint mortgage which will service their monthly payments in the event of eventualities such as redundancy. You should seek independent financial advice before arranging joint mortgage protection insurance.

For further information, you may wish to contact our joint ownership solicitor panel. Alternatively, try our joint mortgage calculator for an idea of what you might be able to borrow or if you have found a property, you can start your joint mortgage application by obtaining a no-fee no-obligation joint mortgages agreement in principle from Sharetobuy.com.