Expert advice from Newbury Building Society!

Published: September 2018

Newbury Building Society has been helping local people step onto the housing ladder for over 160 years. We have 10 branches across Berkshire, Hampshire and Oxfordshire, and specialise in affordable housing mortgages – including Shared Ownership and Help to Buy.

We guarantee that you will always be able to speak to a person, not a computer. We understand buying a property and obtaining a mortgage can be an exciting, and sometimes daunting, experience – especially if you’re a first-time buyer or new to the property market. That’s why all our mortgage advisers are CeMAP (Certificate in Mortgage Advice and Practice) qualified, and committed to speaking to you in a clear and concise way to strip away complex jargon.

Our mortgage advisers are available from Mondays to Saturdays and we offer a free, no obligation meeting to discuss your needs. Alternatively, we can arrange a telephone appointment to suit you. You don’t even have to leave the comfort of your sofa!

The affordable housing schemes are a great way to get onto the housing ladder as you only need a deposit from as little as 5% of the overall property value (Equity Loan Scheme) or of the share that you purchase (from 25% through Shared Ownership). This means you can get on the housing ladder without the need for a large deposit, reducing the pressure to fork out an unrealistic lump sum.

Don’t worry! Shared Ownership doesn’t mean a ‘shared property’ in the sense you have to live with another person. You live in the whole house and you have a mortgage on the share that you ‘buy’ and pay rent on the remaining amount, usually to the council or a housing association. This could be a lifeline for those already paying rent, as the rent you pay alongside the mortgage is subsidised. This means it generally works out less per month than renting privately and definitely less than buying the full 100% of your home.

If you’re lucky enough to be able to pay rent and save, a Shared Ownership property will actually allow you to carry on in the way you’ve grown accustomed to. The only difference is that your money will be invested in a property, rather than simply paying to keep a roof over your head.

The benefit of Shared Ownership is that you can buy a percentage share of the overall value of the house and you can buy more of the property when you can afford it – this is called staircasing. For example, you can start with 25% then, if financials fit, purchase a further 5%, and so on. This means the rent you pay to housing association will reduce.

At Newbury Building Society, we are committed to helping first-time buyers take their first step onto the property ladder.

By attending the Help to Buy roadshow, we can help people who are unsure of where to start as a CeMAP qualified mortgage adviser will be able to offer mortgage advice and answer any questions a visitor may have about the overall process.

There are many other reasons to choose us. We are a specialist in affordable housing mortgages and as you get to speak to a person (not a computer!) we can consider all of your previous and current circumstances. We are also proud to be one of the few lenders who provide products up to 95% – even on Shared Ownership – and lend throughout England and Wales.

Whether you are a first time buyer or have owned a property before, obtaining a mortgage and buying a property can seem like a daunting task. We try to simplify the whole process from your initial enquiry all the way through until you move into your new home by providing you with specialist face to face advice in a way you can understand.

We look forward to meeting you at roadshows and welcoming you to our stand to discuss your mortgage requirements.

Newbury Building Society will be at the Hampshire and Swindon shows.