BELFAST CITY CENTRE: 028 9013 7392 | EAST BELFAST OFFICE: 028 9560 9410 | ORMEAU ROAD, BELFAST: 028 9521 9349 | LISBURN RD BELFAST: 028 9521 9351 | DROMORE: 028 9210 6060 | LISBURN: 028 9279 4300 | ARMAGH: 028 3743 0770 | LURGAN: 028 3898 4004 | DUNGANNON: 028 8747 0270 | COOKSTOWN: 028 8673 1055  | COALISLAND: 075 6180 7334

Contact Your Local Branch
BELFAST, CITY CENTRE: 028 9013 7392
BELFAST, EAST OFFICE: 028 9560 9410
BELFAST, ORMEAU ROAD: 028 9521 9349
BELFAST, LISBURN ROAD: 028 9521 9351
DROMORE: 028 9210 6060
LISBURN: 028 9279 4300
ARMAGH: 028 3743 0770
LURGAN: 028 3898 4004
COOKSTOWN: 028 8673 1055
DUNGANNON: 028 8747 0270
COALISLAND: 075 6180 7334

What is Co-Ownership and how does it work?

by | Dec 8, 2023 | Uncategorized | 0 comments

Are you taking your first exciting steps into home ownership, thinking about refinancing, or curious about shared ownership options? Whatever your journey, we at The Mortgage Clinic are here to demystify the mortgage process for you. Picture us as your friendly Mortgage Advisor on Lisburn road in Belfast, ready to guide you through every twist and turn.

We totally get that everyone’s situation is unique. That’s why we’re all about tailoring our advice to fit you just right. With our wealth of knowledge and hands-on experience, we’ll walk you through the maze of mortgage applications, making sure you get the gist of every step.

Got questions? Considering your options? Or just need a little clarity on the best way forward with mortgages? We’re just a call or a message away. Our team is primed and ready to offer the guidance and support you need to make smart, informed decisions about your home financing.

How Does the Process Work? Let’s Break It Down

Thinking about Co-Ownership but feeling a bit overwhelmed? You don’t have to worry as we take the stress out of the unknown. Here at The Mortgage Clinic, we’re all about making things clear and simple. Co-Ownership is all about how you buy what you can now (anywhere from 50% to 90% of the home’s value) and pay rent on the rest. This means that step by step as your finances grow, you can buy more of your home until it’s all yours.

Not all lenders are on board with Co-Ownership, and that’s where we come in. We’re here to help you find that lender who’s just as excited about your home ownership dream as you are, and to snag the best mortgage deal to make it happen. Think of us as your personal guides on this exciting journey, especially if you’re around Lisburn Road in Belfast.

Before you start eyeing those property listings, let’s chat. We’ll sit down together and figure out how much you can borrow and what your monthly costs might look like. Our initial planning consultation is totally free and super helpful. It’s all about setting a realistic budget and saving you the hassle of falling for homes that might just be out of reach. Our Mortgage Advisor on Lisburn Road in Belfast will walk you through everything such as the borrowing amount, expected costs and fees, and what kind of deposit you’ll need.

Don’t stress about shopping around with different banks and building societies, we’ve got you covered. Our one-stop service means we do all the legwork, working with major UK lenders and the local ones to ensure you get advice that’s 100% tailored to you. Every lender is different, but our expertise means we’ll find the perfect match for your unique circumstances.

Part of what we do includes taking a close look at your credit report. It’s a crucial step in any borrowing process, be it for a mortgage or a credit card. We’re also here to help with all the paperwork, both for your mortgage and Co-Ownership applications.

What Happens After the Planning Consultation? Let’s Map It Out

So, you’ve just had a great chat with our Mortgage Advisor on Lisburn Road in Belfast during your Planning Consultation. What’s next? Well, you’re about to become a savvy home shopper, that’s what! Let’s dive into what you’ll know and how you’ll feel after our consultation:

Knowing Your Buying Power

First up, you’ll have a crystal-clear picture of how much you can borrow. This is super important because it sets the stage for the kinds of homes you can realistically think about. No more heartbreak over falling for a house that’s just out of reach financially.

Understanding the Full Picture of Costs

We’ll also break down all the costs that come with buying a home through Co-Ownership. This isn’t just about your mortgage payments; we’re talking about other stuff too, like service charges, ground rent, and any specific fees tied to shared ownership. Getting this information upfront is key to budgeting like a pro and avoiding any nasty money surprises later on.

Getting Your Documents in a Row

Then there’s paperwork – nobody’s favourite, but oh-so-necessary. We’ll guide you through gathering all the important documents you need for your mortgage and Co-Ownership applications. From proof of income to bank statements, we’ll help make sure you’re fully prepped and ready to go.

Armed with all this info and our expert guidance, you’ll be set to take confident strides towards snagging your dream home. You’ll step into the market knowing exactly where you stand financially and what you need to do next. A visit to a Mortgage Advisor on Lisburn Road in Belfast could be your next great move.

Embark on Your Homeownership Journey with Confidence

Ready to take that exciting first step towards buying your dream home? Let’s kick things off with clarity and confidence.

At the Initial Mortgage Planning Consultation is where you will first begin your journey in which this is completely obligation free. This session is all about understanding all the mortgage options that are available to your personal circumstances. During this session you will figure out how much you are able to borrow as well as obtaining an overall picture of the financial steps you will need to take in order to be able to purchase your home.

Our expert advisors will navigate you in the right direction and during any point of the journey you will be able to check in with them to understand and unravel the complexities of mortgages, offering personalised advice that’s tailored just for you. Whether you’re dipping your toes into the market for the first time, looking to climb up the property ladder, or exploring your refinancing options, this consultation is the ideal starting point.

Navigating the mortgage market can be tricky, but you don’t have to do it alone. Our established team will always provide you with a clear path and plan in hand, making sure you’re well-equipped to make informed decisions.

Ready to start this journey? Book your free consultation today and take that first step towards turning your dream home into your real home. If you’re in Northern Ireland we encourage you to schedule an appointment with a Mortgage Advisor on Lisburn Road in Belfast? Consider your options for a co-ownership mortgage with the best in the business by your side.

Helmut Elstner

Managing Director – Independent Mortgage Broker and Insurance Advisor

Helmut started working in financial services in early 2012 and founded The Mortgage Clinic in Belfast in early 2015. He specialises in all types of mortgages from First Time Buyer, Co-ownership, Self Build, Home Movers, Remortgages, Debt consolidation, to Buy to Let.

Three Best Rated Winner 2021
Winner Mortgage Broker of the year 2020
Top Rated Advisor 2021 on Vouchedfor