Shared Ownership

Shared ownership can help get you on the property ladder quickly by allowing you to purchase a share of a property while paying rent on the remaining share.

Our team of experts can walk you through the requirements needed for a shared ownership mortgage and help you plan your journey to becoming a homeowner.

How does a shared ownership mortgage work?

Shared ownership mortgages allow buyers to purchase a share of a property between 25% and 75%. Rent would then be paid on the remaining share.

What are the advantages of shared ownership?

A shared ownership mortgage can help lower income individuals and families get on the property ladder with only a small deposit needed.

What are the requirements for shared ownership?

To apply for shared ownership your income must be less than £80,000 (Outside of London) If you are a current homeowner, you must be in the process of selling your property.

Questions & Answers

How much deposit will I need for a shared ownership mortgage?

Shared ownership requires a 5% to 10% deposit of the property share you are buying.

Can I increase my share of the home?

You can buy further shares in your property after a certain period of time, depending on the terms agreed. This is known as staircasing.

Can I make home improvements?

You will need to notify your housing association if you plan to make major home improvements such as structural changes or extensions.