Mortgages and lenders

Mortgages and lenders

Shared Ownership means that an individual, couple or friends can buy a share of the property and rent the remaining share from Advance. 

Usually you'll need a mortgage for the part you buy. You can either find your own mortgage, or Advance can refer you to the mortgage advisor MySafeHome who can arrange bespoke mortgages for people with a long term disability and who have no employment income and who claim benefits.

Mortgages organised are interest only, which is normally paid for by a benefit called Support for Mortgage Interest (SMI). 

The Support for Mortgage Interest (SMI) will change from April 2018 from a benefit to a loan. We strongly recommend you contact MySafeHome for further information and speak to an expert benefit advisor prior to arranging your mortgage.