Getting on the Property Ladder in the Aviation Industry

When looking for your first property it can seem daunting, and if you have never owned your own property then it can be 
extremely difficult to make your way onto the property ladder.
Although there is a lot of information that first time buyers need to understand before taking the plunge to owning their own property, there are a number of initiatives that could offer crucial help.

Help to Buy Scheme

• Only deposit of 5% required to qualify for 20% loan & 75% obtained through a mortgage lender.
• Loan payments remain interest free for the first five years
• They are then charged at a rate of 1.75% per year
• Equity Loan scheme is eligible for purchases of new build properties in England worth up to £600,000.

Shared Ownership 

• If you are unable to afford the mortgage to buy a house outright, it may be worth considering shared ownership
  
• You take a mortgage for a percentage of the property (25% - 75%)
  
• Rest of the property is owned by the housing association & you will pay a rent on that share
• Shared ownership properties will be leasehold properties, meaning you own the lease on the property
  
•  Shared ownership properties also incur a service charge towards the maintenance and well being of the property - this is usually payable monthly.
  

How Airline Mortgage Shop can help

• We'll never ignore the allowances, deductions and specialist payments unique to aviation staff
• We have access to 90 leading UK lenders from over 11,000 products
• We are the leading mortgage broker in the UK that specialise in Aviation

Airline Mortgages are able to offer a helping hand when looking to make your mark on the property ladder. Contact the team today to speak with an adviser to find out more.