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3.29% 5 Year Fixed

  • 75% LTV
  • Overall cost for comparison 4.3% APRC

Representative Example: Mortgage of £100,000 on property valued at £200,000 over term of 25 years. Rate fixed for 60 months after which reverts to lender variable rate of 4.74%.

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3.45% 10 Year Fixed

  • 60% LTV
  • Overall cost for comparison 4.1% APRC

Representative Example: Mortgage of £100,000 on property valued at £200,000 over term of 25 years. Rate fixed for 10 years after which reverts to lender variable rate of 5.24%.

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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 2.83%
Rate type: 2.83% Fixed to 30/09/2024
Monthly cost: £837.75 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 4.5% APRC
MPowered Mortgages logo 2.83% 2.83% Fixed to 30/09/2024 4.5% APRC 60% £999 £837.75 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 2.86%
Rate type: 2.86% Fixed to 30/09/2024
Monthly cost: £840.53 per month
Max LTV: 75%
Product fee: £999
Overall cost for comparison: 4.6% APRC
MPowered Mortgages logo 2.86% 2.86% Fixed to 30/09/2024 4.6% APRC 75% £999 £840.53 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 2.93%
Rate type: 2.93% Fixed to 30/09/2024
Monthly cost: £847.04 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 4.6% APRC
MPowered Mortgages logo 2.93% 2.93% Fixed to 30/09/2024 4.6% APRC 60% £999 £500 cashback £847.04 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 2.96%
Rate type: 2.96% Fixed to 30/09/2024
Monthly cost: £849.84 per month
Max LTV: 75%
Product fee: £999
Overall cost for comparison: 4.6% APRC
MPowered Mortgages logo 2.96% 2.96% Fixed to 30/09/2024 4.6% APRC 75% £999 £500 cashback £849.84 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 2.98%
Rate type: 2.98% Fixed to 30/09/2024
Monthly cost: £851.71 per month
Max LTV: 60%
Product fee: £500
Overall cost for comparison: 4.5% APRC
MPowered Mortgages logo 2.98% 2.98% Fixed to 30/09/2024 4.5% APRC 60% £500 £851.71 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 3.01%
Rate type: 3.01% Fixed to 30/09/2024
Monthly cost: £854.52 per month
Max LTV: 75%
Product fee: £500
Overall cost for comparison: 4.6% APRC
MPowered Mortgages logo 3.01% 3.01% Fixed to 30/09/2024 4.6% APRC 75% £500 £854.52 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 3.09%
Rate type: 3.09% Fixed for 5 years
Monthly cost: £862.03 per month
Max LTV: 60%
Product fee: £490
Overall cost for comparison: 4.1% APRC
first direct logo 3.09% 3.09% Fixed for 5 years 4.1% APRC 60% £490 £862.03 per month get quotes More details
Initial rate: 3.13%
Rate type: 3.13% Fixed to 30/09/2024
Monthly cost: £865.80 per month
Max LTV: 60%
Product fee: £0
Overall cost for comparison: 4.5% APRC
MPowered Mortgages logo 3.13% 3.13% Fixed to 30/09/2024 4.5% APRC 60% £0 £865.80 per month get quotes Call us0117 403 4474 Broker Only Deal
Initial rate: 3.15%
Rate type: 3.15% Fixed to 31/12/2024
Monthly cost: £867.69 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 4.6% APRC
NatWest logo 3.15% 3.15% Fixed to 31/12/2024 4.6% APRC 60% £995 £867.69 per month get quotes More details
Initial rate: 3.15%
Rate type: 3.15% Fixed to 31/12/2024
Monthly cost: £867.69 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 4.6% APRC
NatWest Int Sols logo 3.15% 3.15% Fixed to 31/12/2024 4.6% APRC 60% £995 £867.69 per month get quotes Call us0117 403 4474 Broker Only Deal
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Shared ownership remortgage

Our Mortgage Service - helping you make the right decision

"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. 

As your mortgage is such an important transaction, good advice is imperative.

Right Bullets

Find the best shared ownership remortgage deals for you

For those who own a property under shared ownership –perhaps through a housing association scheme or other shared ownership scheme – then remortgaging can be a way of increasing the share of the property that you own. By remortgaging your shared ownership property you could increase the stake that you own of the property.

Shared ownership remortgages – the basics

The process of getting a shared ownership remortgage may vary depending on what type of shared ownership scheme you used to purchase your share of the property. One of the most common shared ownership schemes on the market is the Homebuy scheme, which is a Government backed scheme that allows prospective homeowners to get onto the property ladder.

The scheme works by allowing purchasers to buy a partial share in their chosen property and then pay a small amount of rent on the rest each month.

Depending on the size of the deposit the buyer is able to offer, the share of the property that is owned can range from The share you buy is usually 25-75% of the total house value; your required deposit and the size of your mortgage are calculated against that share.

Shared ownership remortgages to increase your share in the property

Many shared ownership mortgage schemes offer customers the means to buy additional shares in their property over the years, usually in increments of around 10%. This process is known as ‘staircasing’. 

Obviously, owning a higher share in the property will mean you need to pay a little more each month on your mortgage repayments and a little less each month on the rental payments for the share that is still Government-owned. The key advantage of the staircasing process is that you could eventually own your house outright, without needing to lay out a large lump sum to do so.

Shared ownership remortgages to get a better deal

Of course, just like any other homeowner, there may be other reasons for remortgaging besides that of increasing your ownership share. For example, if your current mortgage deal has a discounted rate or a fixed rate that is now coming to an end, you may want to consider remortgage options in order to secure a more competitive interest rate or more flexible payment terms.

If you are thinking about remortgaging a shared ownership house – whether it is to lower your monthly repayments, or to increase your stake in the property - it is a good idea to get remortgage advice from a specialist who can help you find the best deal.

Fees and costs of remortgaging

Bear in mind that just as with getting a mortgage deal in the first place, there are likely to be a number of fees and expenses associated with remortgaging with shared ownership. This is especially likely to be the case if you wish to remortgage to a new mortgage lender, rather than staying with your existing lender buy moving onto a different deal. Some of the costs involved could include:

  • An arrangement fee from your chosen mortgage lender – this may be the case even if you are remortging with the same provider
  • A valuation fee
  • An administration charge
  • Conveyancing fees

At Fair Mortgages our team of independent, whole of market mortgage experts can discuss your remortgage requirements and help you to find the most suitable remortgage deals – call us today on 0117 403 4474 or to speak to one of our mortgage advisers click here »

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