Hawke Financial Services LLP is a professional business based in Surrey, specialising in Mortgages and other financial services. As a priority element of our Shared Ownership/Shared Equity/Help To Buy Service, we are committed to finding the most suitable products to suit your needs from the many available.
Shared Ownership and Equity Mortgages are associated with Government and Housing Association schemes such as Help To Buy.
Help To Buy - Shared Ownership
If you are just unable to afford a mortgage on 100% of your first home, or what will almost always be your first home, Help to Buy’s Shared Ownership scheme Could be ideal for you. The scheme offers you the chance to buy between a 25% and a 75% share of your desired home’s value. You can then pay rent on the remaining share, with the opportunity to buy a larger share when your finances allow it.
You are eligible to buy a home through Shared Ownership if:
You earn £80,000 per year or less as a household outside London
You earn £90,000 per year or less as a household in London
You are a first-time buyer
You used to own a home but are now unable to afford one now
You are already a shared owner but you are looking at moving
With Shared Ownership you can buy a new build or an existing property via a resale programme which housing associations have in place. Before you can do this, you will need to take out a Mortgage so that you are able to pay for your share of the home’s purchase price. Alternatively, this can be funded this through savings, but you must remember that Shared Ownership properties will always be leasehold. There may be certain groups of the population who are eligible for priority onto these schemes, for example, the military, but your adviser at Hawke will take you through this in accordance with your local authority’s regulations.
Help To Buy - Equity Loans
Some builders will offer Equity Loans on certain properties. You would need to check who it would be in your area that you would be looking at to purchase offer these schemes.
How It Works
With an Equity Loan, the Government lends you up to 20% of the total cost of your new build home. You then only need a 5% cash deposit and a 75% Mortgage to make up the remaining value. You won’t owe fees on the 20% loan for the first five years of owning your home.
London Help To Buy
As a reflection on London’s current property prices, the government is currently increasing the upper limit for the equity loan. It is giving new home buyers within the Greater London catchment area between 20% and 40%.
Your Shared Ownership, Equity or Help To Buy Advisor
Mortgages for these schemes are specialised and limited to a small number of high street lenders. Your broker at Hawke FS will be happy to advise on and arrange the most suitable mortgage deal for you.
For more information on the Help To Buy services we provide here at Hawke FS, please do Contact Ustoday.
Give us a call on 020 8660 8613 or email us at firstname.lastname@example.org, and our brokers will be more than happy to discuss your options with you.
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Richard - Perfectly Satisfied With Their Advice And Service
“I was perfectly satisfied with their advice and service. They were fast, helpful and always kept me updated. There was never a moment I didnt think I was getting the best service.”
Mehdi Rizvi - Excellent Professional Service - 14th Sep 2017
“I have been with Hawke Financials (Peter Hunt) since 2014. As a Buy to Let landlord, I found they are extremely professional and provide unbiased/impartial proficient advice. They have access to all the major lenders and offer very competitive mortgage rates with excellent customer service. Strongly Recommended”
Paul Jenkins - Residential Remortgage - 12th Sep 2017
“We required to remortgage for various reasons and were given expert advise on how best to do this along with our many options. I found the information given in a way which was easy to understand and very practical. The process proved to be a little more difficult but without the support from Hawke Finacial I am sure things would have been even more difficult and taken even longer. The delays were with other parties and not because of Hawke.”