shared ownership mortgages

Shared ownership mortgages are a great opportunity for those who may be finding it difficult to get on the property market. They allow non-homeowners to take out a mortgage on a share of a property and pay rent towards the rest of the property.

How do Shared Ownership mortgages work?

Shared ownership mortgages are part of the government’s Help To Buy scheme. They allow you to own a share in a property, which is currently owned by a housing association. The benefits include the buyer being granted a loan, which contributes towards the mortgage, therefore enabling access to cheaper mortgage rates.

With a shared ownership mortgage, you can own anything between 25 – 75% of the property and also have the opportunity to buy back a bigger share of your house at a later date.

The Mortgage Quarter

Do I qualify?

You may qualify for a shared ownership mortgage if any of the below apply:

  • If you are a first time buyer or a home mover who can’t afford all of your new property
  • If you currently rent a council or housing association property
  • Your household earns less than £80,000 a year outside of London, or less than £90,000 in London.

You can also get help from another government incentive called Older People’s Shared Ownership if you’re aged 55 or over.

It works in the same way as the general Shared Ownership scheme, but you can only buy up to 75% of your home. Once you own 75% you won’t have to pay rent on the remaining share.

If you are interested in finding out more about Shared ownership mortgages or want to apply for one, get in touch today. Our team of experts are here to guide you through the process and find the best option for your circumstances.


Got a question? Drop us a line and we will get back to you as soon as possible.

Because we play by the book we want to tell you that...

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.

The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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