{"id":128411,"date":"2022-08-01T13:00:16","date_gmt":"2022-08-01T06:00:16","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-buy-our-shared-ownership-property-outright-and-let-it-out\/"},"modified":"2022-08-01T13:18:34","modified_gmt":"2022-08-01T06:18:34","slug":"can-we-buy-our-shared-ownership-property-outright-and-let-it-out","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-buy-our-shared-ownership-property-outright-and-let-it-out\/","title":{"rendered":"Can we buy our shared ownership property outright and let it out?"},"content":{"rendered":"


\nA reader asks if they can secure 100% ownership and get a buy-to-let mortgageQ I am currently living in a shared ownership property that I jointly own with my wife. We have a 25% share of the property which is valued at \u00a382,000. The full value of the property when we bought it in March 2021 was approximately \u00a3328,000. We bought this with a five-year mortgage with a fixed rate of 2.2% and we\u2019ve been overpaying the maximum 10% of the overall mortgage without incurring an overpayment penalty.Would it be possible for me to remortgage for 100% ownership as a buy-to-let? If so, what would the procedure be? We can pay off the mortgage for the share of the property we own (there is about \u00a350,000 remaining of the mortgage), as I\u2019ve come into a bit of money through inheritance. Is it a case of staircasing to 100% while applying to a bank for a buy-to-let mortgage?UM Continue reading…
\n
\nSource : theguardian.com
\nRead more…Can we buy our shared ownership property outright and let it out?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A reader asks if they can secure 100% ownership and get a buy-to-let mortgageQ I...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-128411","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-xp9","jetpack-related-posts":[{"id":147134,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/affordable-shared-ownership-homes-cost-residents-more-than-half-their-wages\/","url_meta":{"origin":128411,"position":0},"title":"\u2018Affordable\u2019 shared-ownership homes cost residents more than half their wages","date":"September 22, 2024","format":false,"excerpt":"\r Many people now feel trapped despite major provider\u2019s guidance that mortgage, rent and service charges should not exceed 40% of take-home payResidents who bought shared-ownership properties promoted as \u201caffordable homes\u201d say they now feel trapped because they have to spend more than half of their net salaries on mortgage\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34376,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shared-ownership-only-way-to-buy-or-worst-of-both-worlds-readers-views\/","url_meta":{"origin":128411,"position":1},"title":"Shared ownership: only way to buy or worst of both worlds? – readers' views","date":"November 15, 2016","format":false,"excerpt":"\r Mixing rent and a mortgage gives tenant-owners mixed feelings. Equity gains are welcome, but there are fears about high rents and affordabilityAppetite is growing for shared ownership schemes in areas where many people are priced out of the housing market. But what\u2019s it really like? Readers report mixed feelings\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117768,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-i-buy-a-house-in-my-name-but-put-my-partner-on-the-mortgage\/","url_meta":{"origin":128411,"position":2},"title":"Can I buy a house in my name but put my partner on the mortgage?","date":"July 13, 2020","format":false,"excerpt":"\r I\u2019m worried we won\u2019t be eligible for the stamp duty cut as my fiance owns a flat he can\u2019t sellStamp duty: what is it and what has the chancellor changed?Q I live with my fiance, who part-owns a one-bedroom flat in south London through a shared- ownership scheme. 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