Cheshire Building Society offers shared ownership mortgage on 100 Mortgages

The Cheshire Building Society have launched their fixed-rate shared ownership mortgage, they say that this new product will help first-time buyers get themselves onto the property ladder.

The new mortgage deal will be set at 6.80 percent for the first three years, after which the standard variable kicks in, there are no arrangement or standard valuation fees and the loan is available up to 100 percent of the homes value.

The Shared Ownership Scheme from Cheshire Building Society, are exclusive to properties in the North West of England. The scheme allows for you to purchase part of the property with the remainder of it being owned by an organisation, normally a housing association that you will then have to pay a small rent to.

This sort of scheme is the perfect way to ease yourself onto the property ladder, as you might get the chance to purchase the remainder of the property at a later date.

In our current climate this could be the perfect opportunity to get on the property ladder, and with falling house prices, you will then be able to purchase more of the property with this scheme.

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