Share to Buy launches Mortgage Broker Panel

Leading first time buyer property portal Share to Buy has created a Mortgage Broker Panel – a reference for purchasers, as they look to secure a mortgage for a Shared Ownership or Help to Buy home.

Featuring four of the most experienced specialist brokers in the sector – Metro Finance, TMP The Mortgage People, JDCIFA and De Havilland Group Limited – the panel is a first port of call for buyers as they navigate the often complex process of obtaining a mortgage, finding the best product to suit their needs.

Kelly McCabe, Managing Director at TMP The Mortgage People, comments: “We have been working with Shared Ownership buyers since 2005, so we have seen the market expand first hand. In the beginning, few lenders offered Shared Ownership products – now, buyers have so much choice that they can find a solution that fits their exact needs. Home ownership is definitely still an aspiration all across the UK, but the gap between average incomes and average home prices on the open market is a national issue. Shared Ownership fills that affordability gap, and we are confident that as awareness grows, availability across the country will increase and owning a home through Shared Ownership will become the norm.”

In recent years, the market for Shared Ownership homes has become increasingly competitive, with recent research by Metro Finance showing that there is an average of 2.1 buyers per property across London and the country, while some sought after schemes have up to 5.4 buyers per property.

Jon Lord, Managing Director of Metro Finance, comments: “With demand for Shared Ownership homes continuing to grow, using a broker can help speed the process up, helping them secure the home of their dreams. At this very moment, there are 261 different mortgage products on the market for Shared Ownership alone, making selecting the right mortgage an extremely daunting task for buyers. At Metro Finance, our goal is to make finding the right mortgage easy and convenient.”

Also reporting high demand from first time buyers, Neil Rippon, Managing Director at De Havilland Group Limited, comments, “Despite negativity in the press about the state of the property market, we continue to see interest growing for Shared Ownership and Help to Buy homes, as fewer and fewer buyers can afford to buy on the open market. We’ve been involved in affordable home ownership for over 15 years, and have seen Shared Ownership mature into a more mainstream product, with more and more lenders coming into the market. Interestingly, about 50% of the mortgages we secure are now for resale properties, as those who have used the scheme to get onto the property ladder often move on to buy outright.”

Martin Fairchild, Partner at JDCIFA comments: “JDCIFA are really happy to be selected for the Share to Buy panel of mortgage advisers. We have been involved with affordable housing for years and Share to Buy provide the best resource for anyone looking to buy their first home. You can go on their website, find properties in your area and find both mortgage and legal experts that can help with the purchase. It is now a one stop shop for those looking to get on the property ladder through affordable housing.”

The Mortgage Broker Panel is just one of a number of resources on the Share to Buy portal – designed to make getting on the property ladder considerably more straight forward for first time buyers. Other features include Share to Buy’s Mortgage Calculator, which allows users to compare specialist Shared Ownership mortgage products, and a Mortgage Comparison tool which can help buyer’s find mortgages that meet their affordability needs.

Nick Lieb, Head of Operations for Share to Buy, concludes, “We are delighted to launch our Mortgage Broker Panel, which includes four of the industry’s best known brokers – all of whom are fully embedded in the sector, with years of experience. Like our already established Solicitors and Conveyancing Panel, this panel will help first time buyers get in touch with some of the best in the business – helping their journey to home ownership run as smoothly as possible.”