01 Feb 2016

A question about : Using MSE mortgage calculator for Share to Buy?

Hey!

I've recently been accepted on a Share To Buy flat and now want to shop around for mortgages.

Can I use the MSE calculator to do this? If so, how? Getting a bit confused.

Can I just set the borrow amount to 25% (the percentage I am going to have a mortgage on) to then find the best deals?

Thanks for any help, much appreciated!

Best answers:

  • Share To Buy is the name of the mortgage brokers which has the contract for shared ownership in London; so you are looking for shared ownership products.
    The lender choice on SO is a bit thin and this is further cut by the property being a newbuild and the size of your deposit.
    As there are two calculators which determine affordability - the Government's shared ownership calculator and your chosen lender's affordability calculator it would be sensible to start off with an independent mortgage broker with experience of SO and newbuild if the latter applies.
    I don't know what the calculator you mentioned does.
  • Ah I see! That makes sense now.
    The MSE calculator I think is based on mortgages not on SO so I'll get in touch with a broker instead.
    Thanks a lot for your help!
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