Shared ownership is a great way to get onto the property ladder. Simply put, you buy a share in a property and rent the rest. As a guide, you can normally buy between 25% and 75% of the property.
When you can afford it, you’ll be able to buy more of the property – this is called ‘staircasing’ – and increase your investment. You can buy a newly built house or one which is being sold by a housing association. You’ll need to take out a mortgage from a lender who specialises in this type of loan to pay for your share of the property’s purchase price. In time, you may be able to buy a greater share to get you to full ownership.
This depends on where you live in the UK. For England, you’ll usually need to be a first-time buyer with a combined household income below £80,000 outside London. Military personnel may also have priority.
You can check through your options with our Mortgage Finder.
For more information about shared ownership, check out the government’s Help To Buy website.
| Mortgage Product | Maximum Loan to Value | Initial Rate | Followed by our Standard Variable Rate | The overall cost for comparison | Product Fees | Deposit amount |
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| Shared Ownership – 3 Year Discounted Rate 2.79% | 95% | 2.79% | 4.99% | 4.7% APRC |  |
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Based on a £90,540 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 31 year term: 36 monthly payments at a variable rate of 2.79%, (£363.89) £13,100.04. 336 monthly payments at standard variable rate (currently 4.99%), (£468.85) £157,533.60. Valuation fee on property of £118540, payable when you apply £190 (scale applies). Telegraphic Transfer fee payable when you apply £25. Solicitors fees payable to your conveyancer (estimated) £360. Mortgage Discharge Fee payable at the end of your mortgage £150. Total Amount Payable £171,358.64. |
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| Shared Ownership – 3.59% Fixed Rate to 30 September 2022 | 95% | 3.59% | 4.99% | 4.8% APRC | |
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| Shared Ownership – 3.99% Fixed Rate to 30 September 2024 | 95% | 3.99% | 4.99% | 4.8% APRC | |
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| Shared Ownership – 3.19% Fixed Rate to 30 September 2021 | 95% | 3.19% | 4.99% | 4.8% APRC | |
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