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Housing provider offers shared ownership mortgages

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Published by Max Salsbury for 24dash.com in Housing and also in Communities, Finance

Housing provider offers shared ownership mortgages Housing provider offers shared ownership mortgages

A housing provider has teamed up with a major bank to offer first time buyers bespoke mortgages for shared ownership properties.

In partnership with Santander, A2Dominion New Homes - which manages over 34,000 homes across England - is offering approved applicants loans of up to 95% of the value on shared ownership properties.

Hayley Morgan, Assistant Sales & Marketing Director for A2Dominion, said: "We recognise that for many first time buyers, especially those searching in the capital, being able to save a large deposit and secure a mortgage can be a huge challenge.

"As a leading provider of quality new homes, we’re committed to supporting first time buyers through our shared ownership schemes, which give those on moderate incomes the opportunity to buy a share of a new home and pay a subsidised rent on the remaining share. There is then the option to increase the share over time until the property is owned outright."

Phil Cliff, Mortgage Director for Santander, added: "Our new partnership with A2Dominion further extends the availability of Santander’s affordable mortgages into London. The initiative helps first time buyers get a foot on the property ladder and plays a vital role in supporting the creation of more affordable housing across the UK.

"The continued extension of our shared ownership proposal is very exciting and reflects our ongoing commitment to the UK housing market whilst supporting our aim to create innovative products that put the customer first."

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