Shared Equity Scheme for First Time Buyers

Discount Property Finders are offering first-time buyers an opportunity to get onto the property ladder with help from property investors.

The government introduced a Shared Home Ownership Scheme to help people who find it hard to save for a deposit to purchase a property in the UK. This scheme allows first-time buyers to buy up to 75% of a property from a council or housing association. They then pay a mortgage on the percentage they own and pay rent on the percentage owned by the authorities.

Unfortunately only a few people qualify for this government scheme and there is a shortage of properties available to offer everybody.

Discount Property Finders shared equity scheme offers individuals, couples and families an opportunity to part-own a property with an investor. You, the home-buyer, can purchase anything between 25% - 75% of the property and the investor will purchase the rest. You will then pay the investor rent on the percentage they own. Your total monthly repayments are usually less than paying rent privately.

Unlike renting, you can treat the property as your own and make improvements, doctorate and even rent out spare rooms to help cover your costs. 

Our shared equity scheme benefits you, the buyer, and your co-buyer, the investor.
Many property investors face problematic tenants, empty properties and ongoing maintenance bills on their property investments. Being a Landlord can be hard work and without any financial reward.  This is why property investors are turning to shared equity schemes where the home-buyer will look after the property much better than a tenant would.
The home-buyer will receive a home of their own and benefit from the rise in value of the property.

The buyer will be able to buy the remaining equity in the property from the investor at a later date until they own the property in full.

How it works

  • First-time buyers register their interest in the scheme
  • Use our shared equity calculator to see how much deposit you need and how much your monthly repayments will be
  • Fill out a shared equity scheme application form
  • We will contact our investors about your application to see if anyone would like to co-invest with you (your personal details will not be shared)
  • Buyers will need to apply for a mortgage in principle with our broker, this will check to see if you are eligible for a mortgage for the property
  • When you have a mortgage in principle and we have received interest from investors you have 3 months to find a property you would like to buy
  • When you have found a property we will forward the property details to the investors whom showed interest in co-investing with you for them to make a final decision.
  • When an investor agrees, a legal document will be drawn up with a solicitor called “A Deed of Trust” to outline the responsibilities between you, the buyer, and the investor. The Deed of Trust is a very important document because it protects both parties.
  • The buying process starts.

Buying a property with a co-investor can be complicated and not all mortgage brokers and solicitors understand the process. We have an experience team dedicated in co-investment property purchases that will help you through your investment.

Register today for more information on co-buying with a investor.

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