Do you offer Mortgages on Shared Ownership Homes?

A shared ownership mortgage allows you to buy a share of a new-build or existing home from a housing association and pay rent on the remainder. The mortgage can cover anything between 25%-75% of the property value, depending on what you can afford. You’ll need a deposit equal to 5-10% of the share you’re buying.

For example, if you want to buy a 25% share of a £300,000  property under the shared ownership

• Your share of the property  = £75,000
• Your deposit  = £7,500 (10% of the value of your share)
• Housing association share  = £225,000
• Mortgage needed  = £67,000
• Housing associations are also known as social rents, as they charge less than the private rental market (up to 80% of the market value). If the subsidised rent on your property is £80 per week and you own a 25% share, you’ll pay £60 per week in rent to cover the housing association’s share.