How much deposit for shared ownership mortgages with bad credit?

The deposit needed for shared ownership mortgages can change based on factors like the lender’s rules, the borrower’s money situation, and the property itself. Generally, shared ownership mortgages usually need a smaller deposit compared to regular ones, usually around 5% to 10% of the share you’re buying.

But if you have bad credit, you might have to give a bigger deposit to make up for the risk to the lender. Sometimes, this means putting down a deposit closer to the higher end of the usual range, or even more.

We will help you understand what is expected and how it might affect your chance of getting a shared ownership mortgage. We can also give you advice on how to improve your credit score and work out how a bigger deposit can help you get better terms and improve the chance of approval.

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