It is often a requirement that you cannot own any other residential property whilst you have the shared equity mortgage
This helps clients to purchase a new build property through a shared equity mortgage
Figures from housing investment and shared equity mortgage
provider Castle Trust show that regional variations mean there is a 10% gap between the highest and lowest proportion spent on mortgages - from 22.
Sean Oldfield, chief executive officer of housing investment and shared equity mortgage
provider Castle Trust, said: "Even with mortgage rates well below their historic average, mortgage payments represent a significant proportion of a household's monthly spending, with major differences from region to region.
Following deduction of the pounds 10,000 'sweat equity', eligible home partners have a choice of obtaining a mortgage to buy outright or taking out a shared equity mortgage
to own a minimum of 50% of the property and then pay rent to Cosmopolitan on the remaining share.
The builder said in August that it was in early talks to sell part of its shared equity mortgage
book, which may prompt other house builders to follow in its footsteps.
The Cheswick, a two bedroom luxury apartment is currently on the market for pounds 203,950, which based on a 70 percent shared equity mortgage
of pounds 142,765, can work out at payments of pounds 873 per month.
It is also possible for you to put a charge on the house to secure your loan in the same way as any high street lender and one way of doing this is a shared equity mortgage
Within the North Index, it was speculated that Barratt Developments is in talks to sell a portion of its shared equity mortgage
MONMOUTHSHIRE Building Society is launching a shared equity mortgage
which it says will help local first-time buyers onto the property ladder.
The Government also announced that it was allocating an additional pounds 80m to HomeBuy Direct, its shared equity mortgage
scheme, which aims to help first-time buyers get on to the property ladder and others back into the market.