Shared Ownership

If you'd like to own your own home, but can't afford to buy on the open market, then shared ownership could be the answer for you.

You buy a share of a property, (perhaps from a housing association) for which you take out a mortgage, and pay rent on the remainder. You usually have the option to increase your share later, (stair-casing), up to the value of the whole property.

How much will shared ownership cost?

Rent: The rent you'll pay, depends on the Housing Association. As a guide, the maximum should be 3% of the value of the rented share of the property per annum, (for the monthly amount, divide this figure by 12). You may also have to pay a monthly service charge.

Mortgage: Go to our Payment Calculator for an idea of the monthly payments on the share of the property you wish to buy.

We have extensive experience in shared ownership mortgages and already act as recommended brokers for a number of different housing associations.

Call us today for some free advice about shared ownership on 0800 093 2245