Shared Ownership 45% ratio?

(1 Post)

Applied for a shared ownership property today and went for their 'affordability' assessment.

They put all the information into something called "shared ownership purchase affordability assessment" form and there was a little calculator at the bottom which states how much of a share you can purchase to keep you under the 45% "monthy payments to household income ratio".

The calculator has claimed that we cannot afford the 50% share without a huge deposit (to still be within their 45% affordability ratio).

BUT, we have a mortgage offer from a company who is willing to give me a 95% mortgage on my share with a 5% deposit ( which we can afford).

Is there any way round or a way to over ride this 45% thing he said is set by the Government? is it set in stone or can individual housing schemes accept people who would exceed this 45% thing?

Any advice appreciated as we so desperatly want this house and it was all good to go until this point!

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