Speak to an Advisor 7 days, 8am - 10pm
Speak to an Advisor 7 days, 8am - 10pm
The shared ownership scheme provides an excellent opportunity for first-time buyers and home movers in Sunderland to step onto the property ladder without purchasing or mortgaging the entire property value.
Launched by the government, this scheme in Sunderland enables buyers to purchase shares of a property, typically ranging from 25% to 75%, although some circumstances allow for as little as 10%.
Rent is then paid on the remaining share of the property. The rent is usually paid to a housing association or property builder in Sunderland, as they retain ownership of the remaining shares.
Agreements generally include the option to purchase additional shares later, a process known as staircasing. Over time, this can lead to full ownership.
While staircasing is optional, it can affect your mortgage and property value based on market conditions. Sometimes, a further advance may be required.
A mortgage advisor in Sunderland can clarify these processes during your appointment.
For those considering a shared ownership mortgage in Sunderland, it’s essential to meet certain criteria.
Firstly, applicants must be at least 18 years old. Additionally, household income should not exceed £80,000 annually.
Applicants must demonstrate they are unable to afford the full deposit or mortgage payments for the property’s total value.
Instead, a 5% deposit is required for the share being purchased.
The scheme is open to first-time buyers, previous homeowners who can no longer afford a property, those forming a new household, or current shared ownership homeowners in Sunderland seeking to move.
A mortgage broker in Sunderland can help verify your eligibility and explore suitable alternatives if necessary.
Current homeowners in Sunderland must have accepted an offer (STC) on their property before applying for shared ownership.
Additionally, a memorandum of sale confirming the sale terms must be secured, and the sale of your existing property must be completed prior to purchasing a shared ownership property.
For applicants over 55, shared ownership remains an option, and specific properties may address long-term disability needs.
Members or former members of the armed forces are often given priority for shared ownership properties in Sunderland.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
Our Customers Love Us
5.00 Rating14 Reviews
Danielle
Charlie Bryson was my mortgagee advisor and couldn’t have been more helpful. I am a first time buyer and had zero knowledge of what obtaining a mortgage entailed. Charlie’s advice and delivery of every stage of the process was second to none. I...
4 months ago
Georgia
Our mortgage advisor Charlie Bryson has been amazing with me and Ethan. He has helped us with everything and made sure we are doing everything correctly as we are both first time buyers.
2 years ago
Jordan
Helen was very helpful on the call to re arrange a call back to speak about our mortgage. Very pleasant phone call
3 years ago
Diane
This has been a fantastic service from the initial enquiry to getting the mortgage offer through, everything explained in detail and nothing was a problem, very helpful and professional staff. Would highly recommend using this company to anyone
3 years ago
Martin
Great team and great service. Always happy to help and they make the process easy to understand. They got me a deal I was happy with then got me a better one.
4 years ago
Paul
Spoke to Dale Hunter a few times today. Polite, professional and happy to answer any questions. Over the moon with the service received.
4 years ago
Anonymous
Our advisor was Jason Loft and all I can say is he was amazing and very polite and so was all of his team. Me and my partner are first time buyers so were quite apprehensive about the whole process. However Jason and his team gave us all the...
5 years ago
Anonymous
With the help from Jason and Laura, our mortgage process went very smoothly. As first time buyers we had many questions which they were on hand to answer promptly. Would highly recommend!!
5 years ago
Anonymous
Listened to my every need. Very polite and helpful. Spoke well and clearly understood what was being said and great advice. Thanks
5 years ago
Anna
From start to finish, the service was great. Everything was explained clearly, every little adjustment and query I asked for was expertly dealt with by Leo, who gave me new info and examples of our mortgage requests. Process was very easy to...
6 years ago
Anonymous
Very quick response from the first time I contacted them. Both Cathy and Leanne were great at keeping us informed throughout the process and always responded to our emails within a couple of hours, often less. They understood the stresses and...
6 years ago
Sofia
As a first time buyer I was pretty clueless as to what was needed and when to buy a house. The brokers at Sunderland moneyman made it very easy for me and guided me through the whole process. I’d defiantly give them a recommendation. Thank you...
6 years ago
Leon
I am a First Time Buyer and before I contacted Sunderland Moneyman I didn’t have a clue about mortgages or whether I would even qualify for one. My Advisor (Wayne) came across like he really cared and he was always on the end of the phone to...
6 years ago
Karen
Jason and his team gave an outstanding service. They were reassuring, consistent and were always on hand to give advice and support when necessary. I will be using their service again when my fixed rate ends in 2 years time. Thank you again...
6 years ago
Get in touch with our team who you can explain your situation so they can check your eligibility for a Shared Ownership mortgage in Sunderland.
Within this appointment, your mortgage advisor will look into your income and expenditure to work out your mortgage affordability.
After the appointment, your designated advisor will go away and search through our vast panel of lenders to find the most suitable one for you.
Our team will then look to get your mortgage agreement in principle which is helpful for backing up any purchase offers you make.
When your offer has been accepted, we will then start submitting your full mortgage application and forward the appropriate documents to the mortgage lender.
Throughout the process, your case manager will keep up updated. They will be there from the formal mortgage offer, completion and beyond.
We go beyond the mortgage. Along with securing your the most suitable mortgage deal, we will then recommend the appropriate insurance to keep you protected.
When your mortgage is due to be renewed, we will reach out make sure you are on the most suitable deal.
We have extensive experience help home buyers with Shared Ownership mortgages for many years and we are here to help you! When you attend your free initial mortgage appointment, our team will speak to you about the process and check if you match up with the scheme requirements.
For over 20 years, we have gained lots of experience and knowledge helping customers fulfil their homeowning dreams. We invest in you and provide the helpful, tailored service you need throughout the process.
Our customer service is truly reflected through our fantastic customer review which highlight how we have helped many homeowners in the mortgage process.
Utilising our modern booking system you will be able to book your free initial mortgage appointment online. We understand each customer has a different lifestyle and schedule which is why we are here 7 days a week so you can speak to an advisor on a weekday or weekend.
Here at Sunderlandmoneyman, we have a vast panel of lender that offer both high street and specialist products. Our role is to look through these lenders with the aim to find you the mortgage products that is suited for your financial state.
We have a team of mortgage advisors in Sunderland who have lots of experience and knowledge under their belt and will know the best route to take to finding you the most suitable deal. Contact our tam today and we will be more than happy to help!
Our Home Buying App is a digital mortgage coach designed to help you save up, plan, and track your home buying journey – whether you’re buying your first home, or fancy a move.
Download For Free
Read our 14 Reviews
Sunderlandmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Sunderlandmoneyman 2009–2026
Contact
Follow Us
Sunderlandmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Sunderlandmoneyman 2009–2026
Speak to an Advisor
7 Days a Week, 8am – 10pm
We value your privacy
This website uses cookies. If you continue to use the site, we will assume that you agree with our use of cookies.
