Lender
You'll need a mortgage to complete the purchase of your
half of your Shared Ownership Home. We've negotiated an
exclusive deal with Lambeth Building Society, designed specifically
for people with learning disabilities who wish to purchase
a Shared Ownership Home.
As one of the largest building societies in the UK, you'll
have the peace of mind in knowing the Lambeth understands
your requirements exactly. It will arrange the mortgage
for you with the minimum of fuss. You won't have to make
the mortgage interest payments yourself, they will be paid
in the form of Income Support directly from the Department
of Work and Pensions.
You'll be entitled to raise a mortgage of up to £100,000
which means the maximum purchase price of your Shared Ownership
Home will be £200,000. You should be able to buy something
nice for that.
The mortgage will be sufficient to cover all of the money
you'll need to buy your share of the property. You won't
be required to put down any money at all. No fees and no
deposit.
The Lambeth will provide a free valuation of the property
to ensure your home is worth the money you're being asked
to pay for it.
To save you having to worry about the monthly mortgage
interest payments, the Department of Work and Pensions will
make the payments directly to the Lambeth.
There are no penalties on this mortgage. You can repay
part or all of it at any time. During the time you have
the mortgage, only interest payments will be covered. When
you eventually leave the property, it will pass to the Housing
Association who will pay off the mortgage in full.
Visit
the Lambeth Building Society website » |
