whg signs Mortgage Charter to help shared owners

whg has pledged to support its shared ownership customers struggling with rising interest rates.

The leading Midlands landlord has signed the Mortgage Charter, which promises any shared owner will not be evicted from their home within 12 months of their first missed payment.

The measures within the Charter support the housing sector’s commitment to prevent evictions and provide support to customers during financial hardship.

Fay Shanahan, Corporate Director of Operations and IT, said: “We know that the rising costs of living and higher interest rates are making it harder for home owners to make their mortgage repayments.

“We want to reassure our shared ownership customers that we will not evict them from their homes if they are working with us to get their finances back on track, continuing our pledge not to evict into homelessness.

“We will also act quickly and compassionately to help them access the support they need.”

Shared ownership gives buyers the opportunity to purchase a share in a property. The purchaser pays a mortgage on the share they own, and pays rent to whg on the remaining share, enabling those with lower deposits the opportunity to get on the property ladder.

The Mortgage Charter has been agreed between the government, the Financial Conduct Authority (FCA) and many mortgage lenders in response to rising inflation.

You can read the full charter here