100% Mortgage, on a Shared Ownership Property

[Hythan]

Hi Everyone,

I am currently renting with Mrs Hythan. We are paying over £1000pcm and it's time to start making moves to buy rather than rent.

Due to low income, we are looking at Shared Ownership as our only way onto the ladder. Lack of a deposit is also an issue.

I have a relatively simple question, but am finding conflicting advice on the net.

Can I/we get, a 100% mortgage, on our share of the property we buy. So for example, if we were looking to buy 50% of a property bought at £200k, is there a lender out there who will provide us with the full £100k mortgage?

I am waiting on a call back from an IFA in the next few days, but thought I would ask on here too, as all advice/info on this is welcomed.

Many Thanks

Hythan

[dalenorth]

Sarnie is your resident mortgage adviser, i'm sure he will be along soon.

[Sarnie]

dalenorth said:

Sarnie is your resident mortgage adviser, i'm sure he will be along soon.

Thanks Dale!

OP, there's no one who will lend 100% of your share of the property, you will need at least a 5% deposit based on the value of your share of the property....

[Hythan]

Thanks Sarnie,

I've sent you a PM