Shared Ownership Mortgage Rate sheet:
Shared Ownership Mortgage Rate
If you are finding it hard to find a suitable new home then a Shared Ownership Mortgage could be the way forward. Shared Ownership is a part buy, part rent solution that lets you buy a share of a property using a combination of bank loan (mortgage) and personal deposit, and pay rent to a local Housing Association on the rest.
We have introduced an £850 Cash back incentive for all Shared Ownership Mortgage completions from customers borrowing £75,000 or more *
*Cash back amount is paid within 60 days of the date that the mortgage completes with Reliance Bank Ltd. Cash back does not apply to cases where the borrowing amount is less than the £75,000 qualifying loan amount.
How it works
- Buy between 25% and 75% of a property from a Housing Association
- On the part you’re buying, borrow up to 95% of the share that you are looking to own with a Shared Ownership Mortgage
- Borrow between £75,000 and £500,000
- 2 year and 5 year fixed rates available
- UK Customer Experience Team
Please refer to the individual product rate guides for further details of terms and conditions
Click on the Mortgage documents button below and select Mortgages to see our current interest rates:
Are you eligible?
To apply for a shared ownership mortgage you must be a first time buyer or have owned a property in the past but not own one now. You can also apply if you already have a shared ownership mortgage and you want to move home.
As these mortgages are designed to help people on lower incomes, your combined household income must be:
-less that £80,000 if you live outside London
-less than £90,000 if you’re living in London
Please note our level of service is ‘execution only’ if you apply directly with the Bank, which means we can’t advise you on which of our mortgage products is best suited to you.
If you’re unsure as to which mortgage is best for you then you may wish to seek independent financial advice before you call.
If the independent financial adviser decides to place your application with Reliance Bank, you will be provided with “Advice and Recommendation” level of service through their service. There could be a fee.
Reliance Bank Limited are a mortgage lender and offer mortgages for properties in England and Wales.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE Apply for mortgage