FAQ's

Shared Ownership is a government-backed scheme that allows you to buy a share of a property (usually 10%–75%) and pay rent on the remaining share. You can gradually buy more shares over time, a process known as staircasing.

Pros: Lower deposit & mortgage Ideal for first-time buyers Option to staircase over time Access to new build or modern homes Cons: You’ll pay rent + mortgage Leasehold fees may apply Limited choice of locations Selling process can be slower

To qualify, you typically need to: Your annual household income must not exceed £80,000 (£90,000 per annum within Greater London) You must not currently own a property in the UK or overseas. You are a British or EU Citizen, or you have the right to remain in the UK. You must be over 18 if you are applying for a mortgage.

Deposits are usually much lower than for full market value homes — often around 5–10% of the share you're buying, not the full property price. ✅ Example: If you're buying a 25% share of a £300,000 property (£75,000), a 5% deposit would be just £3,750.

The remaining share is usually owned by a housing association or housing provider. You pay rent on that share — often at a reduced rate compared to market rents.

Yes! Through a process called staircasing, you can buy additional shares — all the way up to 100% in most cases. Each time you staircase, your rent reduces accordingly.

Yes. You can sell your share at any time. The housing provider usually has “first refusal” to find a buyer for a set period. If they can't, you can sell it on the open market.

Yes — but only for the share you're buying. So if you're purchasing 40% of a home, your mortgage is only for that portion, making borrowing more accessible for many.

Yes, Shared Ownership properties are leasehold. This means you’ll likely pay service charges and ground rent, so it's important to factor that into your monthly costs.

Definitely. We’re experienced in helping first-time buyers: Understand Shared Ownership in plain English Secure great mortgage deals with low deposits Work out affordability with combined rent/mortgage payments Plan ahead for staircasing

Staircasing means buying more shares in your home, which reduces the rent you pay on the part you don't own. The price of each new share is based on a fresh RICS valuation at the time, so it goes up or down with the property's value. On newer leases you can usually buy extra shares in steps as small as 1% a year for the first 15 years, while older leases usually set a 10% minimum. You may need extra borrowing to staircase, which we can arrange.

Rent is charged on the share you don't own and is usually a percentage of that share's value, often around 2.75% to 3% a year at the start. It is normally reviewed once a year in line with the terms of your lease. Remember to budget for service charges and ground rent on top of your mortgage and rent.

Lenders look at your income and outgoings, and they count the rent and service charge as committed spending, so these reduce how much you can borrow. Your housing provider will also carry out an affordability check to make sure the costs are sustainable and that you are buying the largest share you can reasonably afford. We work out the numbers with you before you apply.

Many high street banks and building societies offer shared ownership mortgages, usually up to 95% of the value of the share you are buying. However, each lender has to be happy with the housing provider's lease terms, and criteria differ on things like the minimum share, income types and credit history. We check which lenders accept your specific property and circumstances.

It can be possible. Some lenders will consider applicants with missed payments, defaults or CCJs, depending on how recent and how serious they were and whether they have been settled. Your options may be narrower, so getting advice before you apply can help you avoid unnecessary declines on your credit file.

Yes. Self-employed buyers, contractors and limited company directors can get shared ownership mortgages. Most lenders want at least one to two years of accounts or tax calculations, although some can work with less. We help present your income in the way that gives you the strongest result.

You can choose between two options. You can pay stamp duty in stages, based on the share you buy, and then pay nothing more until your ownership goes above 80%. Or you can make a market value election, which means paying once on the full market value of the property and nothing further when you staircase. First-time buyers' relief can apply if you choose the market value option. A solicitor can confirm which option works best for you.

In some cases, yes. Shared ownership is mainly aimed at first-time buyers, but existing homeowners can apply if they cannot afford a suitable home on the open market and are selling their current property. You will usually need to have sold, or be in the process of selling, before you complete.

Yes. You can switch to a new deal with your current lender or remortgage to a different lender when your fixed rate ends. You can also remortgage to raise money to staircase. Your housing provider may need to give consent, and they usually limit extra borrowing to set purposes such as staircasing or certain home improvements.

Usually not. Shared ownership homes are meant to be lived in as your main home, so you generally cannot sublet without your housing provider's permission, which is only given in limited circumstances. Once you own 100%, these restrictions normally no longer apply, subject to your mortgage lender's terms.

As a shared owner, you are normally responsible for repairs and maintenance inside your home, even though you don't own 100% of it. Under the newer shared ownership model, new-build homes come with a 10-year repair period in which you can claim towards the cost of essential repairs from your housing provider, up to a set amount each year. Service charges usually cover communal areas and the building structure.

Once you staircase to 100%, you stop paying rent to the housing provider. If it's a house, the freehold is usually transferred to you. If it's a flat, it stays leasehold, but you then own the whole leasehold interest and can sell it on the open market like any other property.