WHAT IS A SHARED MORTGAGE?
A shared mortgage, or ‘shared property loan’ is a way for borrowers to jointly purchase a property while keeping their finances separate.
WHY DO I WANT SHARED MORTGAGE?
A shared mortgage can offer property joint-ownership through a loan that will cost an individual less than if they are repaying an individually financed loan.
A shared mortgage offers flexibility, so both parties can pay back the loan in a way that matches their respective contributions. In other words, if one party can contribute more to the deposit, their loan repayments will reflect that.
WHO WOULD BENEFIT FROM A SHARED MORTGAGE?
A shared mortgage would benefit anyone who wants to co-own a property. A shared mortgage could be an ideal way to get into the property market with far less pressure on the loan repayments.