A vital part of purchasing your own home is arranging the right type of mortgage. The mortgage advisors (MAs) on Moat’s panel are here to help and have been selected because of their high levels of customer service. MAs on this panel are professionally qualified and will help you make the right choice so that you can afford to enjoy your new home into the future.

We will ask you to speak with one of the MAs on Moat’s panel for an initial affordability assessment.

There are many different types of mortgages, offering varying terms and conditions. Moat staff are not authorised or qualified to provide you with financial or mortgage advice.

You will need savings for a mortgage deposit of at least 5% of the share value that you purchase. The higher your mortgage deposit, the more favourable your mortgage interest rate is likely to be.

Your solicitor will be responsible for making sure you have everything necessary to help you buy your home through shared ownership as smooth and quick as possible. This will include checking the lease, draft contract and title for the home you wish to buy and corresponding with your mortgage lender and Moat’s solicitors.

Your solicitor will raise enquiries with Moat’s solicitors and carry out various legal searches.  Your solicitors will get you to sign the contract and ask you to transfer the deposit into their account so that it is cleared in time for exchange of contracts. 

Moat’s panel of solicitors has many years of experience with shared ownership schemes. We suggest that you appoint a panel solicitor because of this experience.

Your solicitors will send Moat’s solicitors all monies due on the day of completion. Once these monies are received your purchase is complete and you can move in.

Your Moat neighbourhood housing officer will welcome you at your new home normally around mid-afternoon (a specific time will be confirmed to you in advance). The keys to your new home will be handed over to you and, if necessary, they will do a final property check through with you. Any cracks, chips or scratches should be reported immediately otherwise we cannot be sure whether this type of damage occurred before or after you moved in. Defects of this nature that are not reported on the day of completion will be your own responsibility to put right and at your own cost.

Remember to contact the gas, electricity and water companies as well as the local council tax office and any other utilities you require, to let them know you have moved in.