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Shared Ownership

We've always support initiatives to help first time buyers get on the property ladder and have been lending on shared ownership mortgages for a number of years.

If you have clients looking for a practical and flexible alternative to a traditional mortgage, speak to us. We offer shared ownership mortgages for purchase and remortgage, up to a maximum of 95% of the share including on new build houses and flats. What's more, we'll also accept gifted deposits on loans up to 90% LTV of the share and there are no completion, application or CHAPS fees on our products.

Shared Ownership 3.25% 2 Year Fixed Rate 90% Share

About
Fees
Apply
Representative Example
  • FIXED RATE of 3.25% until 30 June 2021, then changing to Ipswich Standard Variable Rate (currently 5.74%)
  • 5.4% APRC
  • Available to direct applicants, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire, Hertfordshire and Buckinghamshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage, Tenet Lime
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073
  • Minimum loan amount £50k

40056, 40057, 40058

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
FREE FREE Purchase: based on property valuation. Remortgage: FREE (up to max property value £1m) - FREE £500,000

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 30 June 2021
Overpayment of 50% or above - early repayment charge is 3% of the overpayment
Redemption - early repayment charge is 3% of the original loan amount

For remortgage only - fee assisted legals (excluding staircasing)

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage)

A mortgage of £76,00.00 payable over 25 years initially on a fixed rate until 30/06/2021 at 3.25% and then on our Standard Variable Rate currently at 5.74% for the remainder of the mortgage term would require 27 monthly payments of £370.36, followed by 273 monthly payments of £468.98. The total amount payable would be £138,241.26 made up of the loan amount plus interest (£62,031.26, a valuation fee of £115 and a mortgage discharge fee of £95. This example assumes the mortgage funds release fee is added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 5.4% APRC representative.

[This representative example is based on assumptions that the loan would start from 4 March 2019]

Shared Ownership 3.25% 2 Year Discount Rate 95% Share

About
Fees
Apply
Representative Example
  • VARIABLE RATE currently 5.74% with a discount of 2.49% until 2 years from completion date then changing to Ipswich Standard Variable Rate
  • 5.4% APRC
  • Available to Intermediary partners, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.
  • Minimum loan amount £50k

35032, 35033, 35034

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
FREE FREE Based on property valuation. Remortgage: FREE (up to max property value £1m) - FREE £500k
  • Free free overpayments up to 50% of original loan
  • For overpayments over 50%, early repayment charge is 1% of the overpayment
  • Early repayment charge period ends 2 years from completion date

For remortgage only - fee assisted legals (excluding staircasing)

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

Representative example:

A mortgage of £76,000.00 payable over 25 years on our Standard Variable Rate currently at 5.74% with a discount of 2.49%, giving a current rate payable of 3.25% until 2 years from completion then our Standard Variable Rate for remainder of the mortgage term would require 24 monthly payments of £370.36 followed by 276 monthly payments of £469.96. The total amount payable would be £138,807.60 made up of loan amount plus interest (£62,597.60), a valuation fee of £115 and a mortgage discharge fee of £95.

The overall cost for comparison is 5.4% APRC representative.

[This representative example is based on assumptions that the loan would start from 12 March 2019]

Shared Ownership 3.50% 2 Year Fixed Rate 95% Share

About
Fees
Apply
Representative Example
  • FIXED RATE of 3.50% up until 30 June 2021 then changing to Ipswich Standard Variable Rate (currently 5.74%)
  • 5.5% APRC
  • Available to direct applicants, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire, Hertfordshire and Buckinghamshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage, Tenet Lime
  • To establish if you/your network is a selected partner, please contact our Intermediary Sales Team on 0330 123 1073.
  • Minimum loan amount £50k

40062, 40063, 40064

 

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
FREE FREE Based on property valuation. Remortgage: FREE (up to max property value £1m) - FREE £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 30 June 2021
Overpayment of 50% or above - early repayment charge is 3% of the overpayment
Redemption - early repayment charge is 3% of the original loan amount

For remortgage only - fee assisted legals (excluding staircasing)

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

Representative example:

A mortgage of £76,00.00 payable over 25 years initially on a fixed rate until 30/06/2021 at 3.50% and then on our Standard Variable Rate currently at 5.74% for the remainder of the mortgage term would require 27 monthly payments of £380.47, followed by 273 monthly payments of £469.95. The total amount payable would be £138,779.04 made up of the loan amount plus interest (£62,569.04), a valuation fee of £115 and a mortgage discharge fee of £95. This example assumes the mortgage funds release fee is added to the loan and that interest is charged on these fees over the mortgage term.

The overall cost for comparison is 5.4% APRC representative.

[This representative example is based on assumptions that the loan would start from 4 March 2019]

Key features of our shared ownership mortgages

  • Loans available up to 95% of the share with a maximum advance of £500,000
  • Minimum share is 25% with a minimum advance of £50,000, or 40% for loans less than £50,000
  • We welcome staircasing to 100% where the applicant increases their mortgage borrowing in order to purchase more shares in their property
  • Available for purchase or remortgage from a shared ownership loan from another lender
  • No completion, application or CHAPS fees
  • All deals feature fee free overpayments up to 50% of original loan amount
  • No maximum age limit
  • Flats accepted up to 10 storeys
  • Gifted deposits accepted up to 95% of the share where applicants can provide 12 months’ rental evidence, or up to 90% of the share without previous rental history
  • Exclusive affordability calculator where property is less than ten years old, using reduced ONS household and communication expenditure
  • Employed, self employed, pension and investment income considered when assessing affordability
  • New build houses accepted
  • We can assess zero hour contract workers with 18 months' employment history
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