For Sale 2 bedroom flat
Property value £128,000
Share percent 25%
Share percent price £32,000
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Financial Guidance
When you buy a property, you need to be sure that you will be able to afford it now and and in the future. If you are looking to buy a shared ownership property the percentage of the property you buy will be determined by what you can afford.
If you think you can afford a mortgage you should ask the advice of an independent mortgage advisor. Our specialist advisors can give you advice about mortgages and more information about the sort of schemes that might suit you best. Any fees that may be charged will be fully explained to clients. The fee will not exceed £300 and is payable only when a mortgage is placed.
You will be asked to provide further information with regard to your income, savings, any debts you may have etc. For an example of the shared ownership affordability calculator please click here or for the equity loan affordability calculator please click here. These are for illustrative purposes only.
Radian's Panel of Independent Financial Advisors
All of these advisors operate across the Hampshire and Isle of Wight area and into Dorset and Salisbury areas too. Please contact them to make a convenient appointment.
| Mortgage Integrity Ltd 54a High Street Tel: 01329 822 878 Tel: 08450 615 616 | |
35 Carlton Crescent Tel: 08450 737 838 | Plaza Suite Tel: 01206 240800 | |
89 Fleet Road Tel: 01252 788888 | The Old Granary Tel: Freephone 0800 652 2365 and ask for Graeme Crisp | |
9a Market Place Tel: 01256 472722 |
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How much will it cost?
Your earnings and any savings you have will dictate the size of mortgage you can apply for. The bigger the deposit you can pay, the less your mortgage could be. You will also have to pay for a survey or a mortgage valuation on the property and there will be legal fees and stamp duty to pay.
What are the monthly costs if I buy a home?
Every month you will need to pay:
- mortgage repayment to your mortgage lender
- rent to the housing association (if you buy shared ownership)
- any service charge or management fee for services to communal areas (such as in flats/apartments)
- bills such as water rates, gas, electricity fees and council tax
- building insurance
Helping you make the most of your money
The Money Advice Service
Whatever the situation with your finances, it's good to know you're on top of things and are making the most of what you have. The Money Advice Service is here to help. It offers clear and unbiased money advice and information to help you make the most of your money, whatever your circumstances – and it's free.
About the Money Advice Service
The Money Advice Service is independent and unbiased so it won't recommend any particular products or try to sell you anything. It was set up by government and is funded by a levy on the financial services industry.
You can access their service on-line – www.moneyadviceservice.org.uk
The HCA believes everyone proposing to buy their own home and obtain a mortgage should be aware of what they are taking on, and what they can afford.
You should also have continued support after purchasing and the Money Advice service can offer that support by providing you with the tools to assess your financial health on an on going basis, work out priority payments such as your mortgage, and obtain help and support if your circumstances change and you need some extra advice.
The tools available through The Money advice service can also help purchasers if you are thinking of staircasing or paying back you second charge or just want to reassess your situation.
For further details and to find a link to the Money Advice health check tool, click here.
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