Shared Ownership

Like the Help to Buy equity loan, Shared Ownership is another affordable home ownership scheme designed to assist aspiring buyers who are struggling to afford a mortgage. This scheme offers buyers the option to buy between a quarter to three-quarters of a property and pay rent on the remaining share.

Shared Ownership Mortgages

Interest Rate	Standard Variable Rate	Overall Cost For Comparison	Maximum LTV	Arrangement Fee	Application Fee
Teacher Exclusive, Shared Ownership, 2 Year Variable Rate Mortgage 5% Deposit 3.50% Variable
3.50%	4.89%	4.8% APRC	95%	N/A	N/A
Key Features Variable rate A variable rate, currently 3.50%, which is discounted by 1.39% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage. The overall cost for comparison is 4.8% APRC representative. What you Pay Daily interest. A valuation fee is payable for all properties worth £800,000 or more. Early repayment charge An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge. What we Pay The first valuation fee for properties worth less than £800,000. £100 cashback upon completion of your mortgage, if either or both applicants are NEU members. Who can apply and more information Available for Shared Ownership home purchase and remortgage applications. Available to teachers only. Your home may be repossessed if you do not keep up repayments on your mortgage Representative Example A mortgage of £197,194.00 over 29 years initially on a discounted variable rate of 3.50% (equal to a 1.39% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £902.82 and 324 monthly payments of £1051.71. The total amount payable would be £362,550.68 made up of the loan amount plus interest (£165,246.68) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. The overall cost for comparison is 4.8% APRC representative. Call us today on 0800 378 669 Full Mortgage Details Arrange an appointment Sign up to our newsletter This product may be withdrawn or amended at any time, without prior notice
Teacher Exclusive, Shared Ownership, 2 Year Variable Rate Remortgage 5% Deposit 3.50% Variable
3.50%	4.89%	4.8% APRC	95%	N/A	N/A
Key Features Variable rate A variable rate, currently 3.50%, which is discounted by 1.39% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage. The overall cost for comparison is 4.8% APRC representative. What you Pay Daily interest. A valuation fee is payable for all properties worth £800,000 or more. Early repayment charge An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge. What we Pay The first valuation fee for properties worth less than £800,000. £100 cashback upon completion of your mortgage, if either or both applicants are NEU members. For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage. Who can apply and more information Available for Shared Ownership home purchase and remortgage applications. Available to teachers only. Your home may be repossessed if you do not keep up repayments on your mortgage Representative Example A mortgage of £197,194.00 over 29 years initially on a discounted variable rate of 3.50% (equal to a 1.39% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £902.82 and 324 monthly payments of £1051.71. The total amount payable would be £362,550.68 made up of the loan amount plus interest (£165,246.68) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. The overall cost for comparison is 4.8% APRC representative. Call us today on 0800 378 669 Full Mortgage Details Arrange an appointment Sign up to our newsletter This product may be withdrawn or amended at any time, without prior notice

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Shared Ownership