Finding the right mortgage for you

Just now given the seemingly ever-changing mortgage interest rates available we’ve been getting quite a few questions about the lenders that offer mortgages to Co-Ownership customers and what is available.

We work with a broad panel of seven leading mortgage lenders. Each lender will have different criteria and pricing and when the market is changing so much it pays to do your research and keep it up to date.

Here are our top tips:

1. Take time to understand your own situation such as your income and key commitments.
2. Plug your figures into our calculator and get an estimate of what you can afford.
3. Do your homework – look at the offers and key criteria of the lenders to ensure that you meet them – if you don’t have any deposit your choice of lenders will be lower.
4. Some lenders work with mortgage brokers others don’t so bear this in mind and make sure you have the full picture.
5. Lenders will normally have a means for you to get a decision in principle (DIP) from them – this is a helpful starting point.
6. Check your credit file to make sure there are no surprises. We use Experian.

Just now with mortgage costs being so high Co-Own can really help keep your monthly costs down and make the move to home ownership affordable. The Co-Own rent is not a market rent. You can see what it would be here.

Maybe when you’ve done all that, the figures don’t stack up. Don’t be disheartened. We find that with lots of customers sometimes a bit of work is needed to get their credit file and finances into shape to be ready for home ownership.

The customer advisers at Co-Ownership are here to help and answer any questions that you might have. They can point you in the right direction to get onto the path from renting towards owning a home of your own.