Building Society Shared Ownership Mortgage Guide UK

by
UK Part-Buy Part-Rent Mortgage Guide · 2026

Building Society Shared Ownership Mortgage Guide UK

A shared ownership mortgage lets you borrow against the share of a home you are buying rather than the property’s full market value. You then normally pay rent to a housing association, council or other scheme provider on the share you do not own.

The important detail is that Shared Ownership is not one identical UK-wide scheme. England, Wales, Scotland and Northern Ireland have different programmes, eligibility rules and ownership structures, and a building society that accepts one scheme may not accept another.

Building Society Lenders Deposit Example Application Steps
Mortgage warning: your home may be repossessed if you do not keep up repayments on your mortgage. With Shared Ownership, you must also keep up rent and other charges required by the lease. Read the lease, mortgage illustration and housing-provider key information before committing.

Independent editorial review: 27 September 2026. Mortgage rates and lender criteria can change quickly, so this guide focuses mainly on scheme structure and current lender eligibility rather than treating a temporary interest rate as permanent.

Shared Ownership Mortgage: Quick Answers

What you buy A percentage share of a property rather than necessarily buying 100% at the start.
What the mortgage covers Usually the part of your purchased share that is not covered by your cash deposit.
Deposit in England Government guidance says it is usually 5% to 10% of the share you are buying, not 5% to 10% of the whole property’s value.
Rent You normally pay rent to the landlord or scheme provider on the share you do not own.
Other monthly costs Service charge, estate charge, management fees or reserve-fund contributions can apply as well as mortgage and rent.
Buying more later Increasing your ownership percentage is known as staircasing.
Building societies Current specialist lenders include Leeds, Newbury, The Cambridge, Principality and other mutual lenders, subject to scheme and property criteria.
Not the same across the UK England, Wales, Scotland and Northern Ireland use different affordable-home-ownership structures.
Fast answer: Shared Ownership can reduce the mortgage and deposit needed at the start, but you are taking on more than a mortgage. Budget for the combined mortgage payment, rent, service charge, lease-related costs and future rent increases before deciding what share is genuinely affordable.

How a Shared Ownership Mortgage Works

In the standard England model, you buy a share of a home and the housing provider keeps the rest. Government guidance says the initial share can be between 10% and 75% of the property’s full market value, although many homes are still sold with starting shares between 25% and 75%.

You can fund your share with a combination of deposit and mortgage. You then pay rent on the percentage retained by the landlord and normally pay property-related charges under the lease.

You normally pay

  • Your mortgage repayment.
  • Rent on the unsold share.
  • Service charge where applicable.
  • Estate or management charges where applicable.
  • Buildings-insurance costs through the relevant lease arrangement.
  • Council Tax and normal household bills.

You normally own

  • The share stated in your Shared Ownership lease.
  • The right to occupy the whole home subject to the lease.
  • The ability to sell your share under the lease rules.
  • The ability to buy additional shares where staircasing is permitted.
Do not confuse “share of property” with mortgage LTV. You might buy 40% of a home but borrow 95% of that 40% share. Those are two different percentages.

Official England guideGOV.UK Shared Ownership Scheme

After opening this link:

  1. Read the section explaining how Shared Ownership works.
  2. Check the permitted initial-share range for the property you are considering.
  3. Open the eligibility section before reserving a home.
  4. Read the costs page for deposit, rent and service-charge information.
  5. Check the staircasing rules before assuming you can automatically buy 100% later.

Shared Ownership Rules Are Different Across the UK

The phrase “shared ownership mortgage UK” covers several different arrangements. Always tell a lender or broker exactly which national scheme and housing provider are involved.

Area
Main structure
Typical share
Important difference
Area England
Structure Shared Ownership
Share 10%–75% possible
Difference You buy a leasehold share and pay rent on the remaining share. Most homes allow future staircasing, but individual lease restrictions matter.
Area Wales
Structure Shared Ownership – Wales
Share 25%–75%
Difference Welsh Government guidance requires a repayment mortgage for the purchased share and uses its own scheme eligibility and application rules.
Area Scotland
Structure Shared Ownership / Shared Equity
Share Scheme-dependent
Difference Scotland has traditional housing-association Shared Ownership plus separate Open Market and New Supply Shared Equity schemes. Shared equity is legally different from part-buy part-rent.
Area Northern Ireland
Structure Co-Ownership
Share 50%–90%
Difference Co-Ownership buys the remaining share. Applicants need a mortgage lender that accepts the Northern Ireland Co-Own structure.

Official WalesShared Ownership – Wales

After opening this link:

  1. Open the Overview section to understand how the Welsh scheme works.
  2. Check the current eligibility rules.
  3. Read how the initial share and repayment mortgage are structured.
  4. Use the application guidance rather than assuming England’s process applies.

Official ScotlandScottish Government Home-Buying Support

After opening this link:

  1. Identify whether you mean traditional Shared Ownership or a Shared Equity scheme.
  2. Open Open Market Shared Equity for eligible existing homes.
  3. Open New Supply Shared Equity for qualifying new-build homes.
  4. Check priority-group and local-area requirements before approaching a mortgage lender.

Northern IrelandCo-Ownership Northern Ireland

After opening this link:

  1. Confirm that you live in Northern Ireland and meet the current applicant criteria.
  2. Use the eligibility checker.
  3. Use the affordability calculator before choosing a property.
  4. Check the current list of mortgage lenders that accept Co-Ownership purchases.

Who Can Apply for Shared Ownership in England?

For England’s government Shared Ownership scheme, current eligibility includes an annual household income of £80,000 or less, or £90,000 or less in London, and being unable to afford the deposit and mortgage payments needed to buy a suitable home outright.

You must also fall into an eligible buyer situation. This can include being a first-time buyer, previously owning a home but being unable to afford one now, forming a new household after a relationship breakdown, moving from another Shared Ownership property, or needing to move from a home you currently own because you cannot afford a suitable replacement outright.

Income ceiling £80,000 household income outside London under the current England rules.
London ceiling £90,000 household income under the current England scheme.
First-time buyers Can qualify if affordability and scheme rules are satisfied.
Previous homeowners Can sometimes qualify where they cannot now afford a suitable home outright.
Local connection Some homes can have an additional requirement to live, work or have another recognised connection to the area.
Lender approval is separate Passing the housing-provider eligibility check does not guarantee mortgage approval.

Official eligibilityCheck England Shared Ownership Eligibility

After opening this link:

  1. Check your household income against the London or non-London limit.
  2. Confirm why you cannot buy a suitable home outright.
  3. Check which eligible-buyer category applies to you.
  4. If you currently own a home, read the sale requirements carefully.
  5. Ask the housing provider whether the property has a local-connection condition.

How Much Deposit Do You Need for a Shared Ownership Mortgage?

The most common misunderstanding is calculating the deposit from the full property value. In England, government guidance says the deposit is usually 5% to 10% of the share you are buying.

Example: a home is worth £300,000 and you buy a 40% share. Your purchased share costs £120,000. A 5% deposit on that share is £6,000, leaving a mortgage of £114,000 if the lender permits 95% borrowing against your share.
£300,000 Full market value.
40% Your chosen share.
£120,000 Price of your share.
£6,000 5% deposit on the £120,000 share.
£114,000 Illustrative 95% mortgage against the purchased share.
60% Share still owned by the housing provider.
Do not assume every lender offers 95% of your share. Maximum borrowing differs by building society, property type, scheme, loan size and application circumstances.

Official costsGOV.UK Shared Ownership Costs

After opening this link:

  1. Check the deposit guidance for the share you intend to buy.
  2. Add solicitors’ fees and any applicable property tax.
  3. Write down the monthly rent and service charge from the property’s key information document.
  4. Check for estate charges, management fees and reserve-fund contributions.
  5. Budget beyond the deposit before paying a reservation fee.

Shared Ownership Monthly Cost: Mortgage + Rent + Charges

Affordability is based on the whole housing cost, not just the smaller mortgage. This is one reason a Shared Ownership property with a low-looking mortgage can still be unaffordable.

For a new-build Shared Ownership home in England, current government guidance says the initial rent on the landlord’s share cannot normally exceed 3% of that unsold equity, and many providers use 2.75%.

Cost
Example
Paid to
What to check
CostMortgage
ExampleLoan on your purchased share
Paid toMortgage lender
CheckRate, mortgage term, product fee, APRC and Early Repayment Charges.
CostRent
ExamplePercentage of unsold share
Paid toHousing provider
CheckInitial rent, review date and annual rent-increase formula in the lease.
CostService charge
ExampleVaries by development
Paid toLandlord / manager
CheckCurrent budget, recent increases, major works and reserve-fund position.
CostOther housing costs
ExampleCouncil Tax, utilities, repairs
Paid toVarious
CheckDo not leave these out of your post-completion budget.
Rent usually increases. In England, the permitted annual increase depends partly on when the lease was signed and the rent-review formula in that lease. Never assume the rent shown in the sales brochure remains fixed.

Building Societies Offering Shared Ownership Mortgages

Specialist building societies can be useful because they often publish detailed Shared Ownership criteria rather than treating the case exactly like a standard residential mortgage. Availability still depends on property location, lease wording, housing provider, income and the share being purchased.

Building society
Current route
Borrowing
Useful criteria
LenderLeeds Building Society
RouteDedicated Shared Ownership range
BorrowingUp to 95% of borrower’s share under current criteria
CriteriaNew builds and resales accepted; current specialist range is distributed through intermediaries.
LenderNewbury Building Society
RoutePurchase, remortgage and existing-borrower options
BorrowingUp to 95% of purchased share on qualifying cases
CriteriaEngland and Wales; current consumer guidance uses a 25%–75% purchased-share range.
LenderThe Cambridge
RouteFixed and discounted Shared Ownership products
BorrowingUp to 95% LTV on qualifying Shared Ownership products
CriteriaEngland and Wales, registered Housing Association, 25%–75% share and required mortgage-protection wording.
LenderPrincipality Building Society
RouteShared Ownership through intermediary channel
BorrowingUp to 95% of purchased share under current criteria
CriteriaCurrent lending proposition covers qualifying Shared Ownership properties in England and Wales.
This is not a complete lender panel. Other mutuals and banks can also lend on Shared Ownership. The lender that fits your lease, property and affordability may be more useful than the lender showing the lowest headline rate.

Leeds Building Society Shared Ownership Mortgages

Leeds currently publishes a dedicated Shared Ownership mortgage range and specialist lending criteria. Its intermediary guidance says it can lend up to 95% LTV of the borrower’s share on qualifying new-build and resale properties.

Leeds also supports Shared Ownership remortgages, product transfers and additional borrowing in qualifying circumstances. Current criteria require the customer to be able to staircase to 100% ownership.

Up to 95% of share Current Leeds criteria permit qualifying Shared Ownership cases up to 95% LTV of the borrower’s purchased share.
New build & resale Both can be accepted under current published criteria.
Remortgage Dedicated Shared Ownership remortgage options are included in the range.
Broker route The current specialist Shared Ownership product information is published through Leeds’ intermediary service.

Official LeedsLeeds Shared Ownership Mortgage Range

After opening this link:

  1. Check the current maximum LTV of the share.
  2. Compare fee-paying and fee-free mortgage products.
  3. Check whether the product is for purchase, remortgage or an existing customer.
  4. Open the Shared Ownership criteria before treating a rate as available to your case.
  5. Ask your broker to check lease, housing-provider and property requirements.

Newbury Building Society Shared Ownership Mortgages

Newbury has a long-standing specialist Shared Ownership proposition for qualifying properties in England and Wales. It currently states that eligible borrowers can borrow up to 95% of the share they are purchasing.

Its current consumer criteria use a minimum 25% and maximum 75% ownership share for the initial Shared Ownership mortgage, with separate loan-size and location rules. Some London postcode restrictions can reduce the maximum lending percentage.

Purchase Dedicated Shared Ownership purchase products are available subject to current criteria.
Remortgage Newbury accepts qualifying Shared Ownership borrowers moving from another lender.
Staircasing Existing Shared Ownership customers may be able to borrow more to purchase an additional share.
Manual discussion Mortgage appointments are available by phone, video or branch, useful where the case needs explanation.

Official NewburyNewbury Shared Ownership Mortgages

After opening this link:

  1. Check the live Shared Ownership products before comparing rates.
  2. Confirm the maximum LTV of your purchased share.
  3. Check minimum and maximum mortgage amounts.
  4. Read the England/Wales and London location restrictions.
  5. If staircasing, use the existing-customer route rather than assuming a normal home-mover mortgage applies.

The Cambridge Building Society Shared Ownership Mortgages

The Cambridge currently offers dedicated Shared Ownership fixed and discounted-variable mortgage options. Its current consumer criteria allow qualifying Shared Ownership mortgages on properties in England and Wales.

The Cambridge states that the buyer’s property share must normally be between 25% and 75%, the purchase must be through a registered Housing Association and the lease must contain an acceptable Mortgage Protection Clause.

Up to 95% LTV Current Shared Ownership products include borrowing up to 95% of the purchased share.
Fixed rate Two-year and five-year Shared Ownership fixed-rate routes are currently listed.
Variable option A discounted variable Shared Ownership option is also currently listed.
Remortgage & staircasing The Cambridge says it can consider Shared Ownership remortgages and borrowing to buy a larger share.

Official CambridgeThe Cambridge Shared Ownership Mortgages

After opening this link:

  1. Compare the live fixed and discounted-rate Shared Ownership options.
  2. Check the completion fee and any Early Repayment Charges.
  3. Confirm your proposed share falls within current criteria.
  4. Ask the housing association or solicitor to check the required Mortgage Protection Clause.
  5. Book a mortgage appointment if you want the Society to assess your case.

Principality Building Society Shared Ownership Mortgages

Principality currently supports qualifying Shared Ownership mortgages in Wales and England through its intermediary proposition. Its published criteria state lending of up to 95% of the share for customers planning to own between 25% and 75% of the property’s value.

This can make Principality relevant to buyers in Wales who want a mutual lender familiar with the local market, but the individual Shared Ownership scheme, lease and property still need to satisfy its mortgage criteria.

Official PrincipalityPrincipality Shared Ownership Criteria

After opening this link:

  1. Confirm whether the property is in an accepted England or Wales scheme.
  2. Check the permitted purchased-share range.
  3. Check the current maximum mortgage percentage of that share.
  4. Have your broker verify the housing-provider and lease conditions.
  5. Do not use the intermediary page as a substitute for a personalised mortgage illustration.

Shared Ownership Lease Checks Before You Apply

The lease can affect whether a lender will accept the property and how easy it will be to staircase, remortgage or sell later. Do not treat it as paperwork to read only after the mortgage is approved.

Length remaining on the lease.
Initial percentage share being purchased.
Rent on the unsold share.
Rent-review formula and review date.
Current service charge.
Estate and management charges.
Reserve or sinking-fund contributions.
Mortgage Protection Clause wording.
Staircasing increments.
Maximum share you are allowed to own.
Rules for selling your share.
Restrictions on alterations, pets or subletting.
Lease-length warning: government guidance notes that a short remaining lease can make a Shared Ownership home more difficult or expensive to sell or remortgage. Ask your solicitor and lender about the remaining term before exchanging contracts.

Staircasing: Buying More of Your Shared Ownership Home

Staircasing means purchasing additional equity from the housing provider. Your rent normally falls because the landlord owns a smaller percentage after the transaction.

In England, the minimum additional share depends on the lease and programme. Older leases can require 10% or even 25% increments. Some newer leases permit standard staircasing in 5% increments, while qualifying newer homes can also have a separate 1%-per-year option for the first 15 years.

New valuation Standard staircasing normally requires a current RICS valuation to calculate the cost of the additional share.
Mortgage change You may use savings, further borrowing from the current lender or a remortgage, depending on circumstances.
Legal work A solicitor or licensed conveyancer may be needed, particularly when borrowing additional mortgage funds.
Administration fee The housing provider may charge a fee for standard staircasing transactions.
Rent falls Rent is recalculated on the smaller share retained by the landlord.
100% is not universal Some protected-area, older-person or other specialist schemes restrict maximum ownership below 100%.

Official staircasingGOV.UK Staircasing Rules

After opening this link:

  1. Check which staircasing model applies to the date and type of your lease.
  2. Ask the housing provider what minimum share can be purchased.
  3. Check whether a RICS valuation is required.
  4. Ask how long that valuation remains valid.
  5. Budget for legal and housing-provider administration costs.
  6. Check the maximum share permitted before arranging extra mortgage borrowing.

Can You Remortgage a Shared Ownership Property?

Yes, but your choice is normally narrower than for an ordinary residential mortgage. The new lender must accept Shared Ownership, the housing provider and the lease.

A remortgage can be used simply to move the existing mortgage balance, or in some cases to raise additional funds for staircasing. The housing provider’s consent may also be required.

Simple remortgage

  • Mortgage remains against the same ownership share.
  • Compare current lender product-transfer options first.
  • Check Early Repayment Charges.
  • Check valuation and legal costs.
  • Confirm the new lender accepts the lease.

Remortgage + staircasing

  • Borrowing increases to fund another share.
  • Housing-provider staircasing process must be followed.
  • A fresh property valuation is normally required.
  • Rent changes after completion.
  • Legal work may be more involved.
Do not wait until the last week of your fixed deal. Shared Ownership remortgages can involve the lender, housing association, valuer and solicitor. Start checking options early enough to deal with lease or consent questions.

How to Apply for a Shared Ownership Mortgage

The property-scheme approval and mortgage application are connected but separate. Being approved by a housing association does not mean a mortgage lender has approved the borrowing.

  1. Check the national scheme. Confirm whether the property is under England Shared Ownership, Shared Ownership – Wales, a Scottish scheme or Northern Ireland Co-Ownership.
  2. Check scheme eligibility. Complete the housing-provider or scheme-provider affordability and eligibility process.
  3. Choose the share. Identify the share the provider will allow and what its purchase price is.
  4. Calculate the deposit. Work from the share being purchased, then check the mortgage lender’s maximum LTV of that share.
  5. Calculate total monthly housing cost. Include mortgage, rent, service charge, estate charge and other recurring costs.
  6. Check lender criteria. Confirm the lender accepts the scheme, provider, lease, property type and share.
  7. Obtain a mortgage assessment. Get a Decision in Principle or adviser assessment where appropriate.
  8. Reserve carefully. In England, a housing-provider reservation fee can be up to £500. Check when it is refundable before paying.
  9. Instruct an experienced conveyancer. Shared Ownership leases need careful legal review.
  10. Review the mortgage offer and lease together. Do not exchange contracts until your legal adviser confirms the purchase can proceed.

Official application processApply for Shared Ownership in England

After opening this link:

  1. Confirm eligibility first.
  2. Use the official search route to find eligible homes or contact the provider.
  3. Ask for the key information documents before reserving.
  4. Check the reservation-fee conditions.
  5. Choose a solicitor or licensed conveyancer who understands Shared Ownership leases.

Documents You May Need

Passport or other accepted photo ID.
Proof of current address.
Recent payslips or self-employed income evidence.
Recent bank statements.
Evidence of deposit and source of funds.
Housing-provider eligibility approval.
Reservation form or memorandum of sale.
Property key information document.
Draft Shared Ownership lease.
Service-charge and rent information.
Gifted-deposit paperwork if applicable.
Details of loans, cards and other commitments.

Common Shared Ownership Mortgage Mistakes

Calculating deposit on the whole home The deposit is normally based on your purchased share under the standard England scheme.
Looking only at mortgage payment Add rent, service charge and other lease costs before judging affordability.
Ignoring future rent increases Shared Ownership rent is usually reviewed annually under the lease formula.
Assuming every lender accepts every scheme England, Wales, Scotland and Northern Ireland have different structures and lender panels.
Using a standard residential rate search A cheap mainstream mortgage may not be available on a Shared Ownership lease.
Ignoring the service-charge history Ask about current charges, recent increases, reserve funds and planned major works.
Assuming staircasing is free Valuation, legal, mortgage and housing-provider administration costs can apply.
Assuming you can reach 100% Some schemes or designated areas restrict maximum ownership.
Ignoring lease length A shortening lease can make future sale or remortgage more difficult.
Paying reservation money too early Understand the refund conditions and mortgage position before committing non-refundable money.

Shared Ownership vs Buying 100% With a Normal Mortgage

Shared Ownership

  • Smaller initial mortgage can be required.
  • Deposit is based on the purchased share under standard scheme rules.
  • Rent is payable on the unsold share.
  • Service charges can apply.
  • The property is subject to Shared Ownership lease conditions.
  • Future staircasing can increase ownership.
  • Lender choice can be narrower.

Buying 100%

  • You finance the whole purchase price minus your deposit.
  • No Shared Ownership rent is payable.
  • Service charges can still apply to leasehold or managed developments.
  • No housing-provider staircasing process.
  • Wider mainstream mortgage choice may be available.
  • A larger deposit and mortgage may be needed at the start.
Shared Ownership can solve an upfront affordability problem, but it does not automatically make the home cheaper over the long term. Compare the full housing cost and your realistic future plans.

Related Building-Society.org Guides

These existing society guides are useful when you want to understand lenders that currently participate in Shared Ownership or other specialist mortgage markets.

Newbury Building Society: Savings, Mortgages & Online Services Cambridge Building Society: Savings, Mortgages & Account Guide Stafford Building Society: Savings, Mortgages & Account Guide Darlington Building Society: Savings, Mortgages & Online Services Chorley Building Society: Savings, Mortgages & Account Guide Nationwide Building Society Mortgage Rates 2026

Official Shared Ownership Sources

Use these sources for the current scheme and lender rules. Mortgage products, rates, fees and eligibility can change after this page is reviewed.

GOV.UK Shared Ownership England Eligibility England Shared Ownership Costs England Rent Rules England Staircasing Shared Ownership – Wales Scotland Home-Buying Schemes Northern Ireland Co-Ownership Leeds Shared Ownership Newbury Shared Ownership Cambridge Shared Ownership Principality Shared Ownership

Final Checks Before Reserving a Shared Ownership Home

Correct national scheme confirmed.
Housing-provider eligibility confirmed.
Full property value checked.
Purchased share price checked.
Deposit based on the correct share.
Mortgage lender accepts the scheme.
Mortgage LTV is based on the share correctly.
Rent reviewed and annual increase understood.
Service charge reviewed.
Lease term checked.
Staircasing restrictions checked.
Sale and nomination rules checked.
Mortgage Protection Clause accepted.
Legal and valuation costs budgeted.

Last reviewed 27 September 2026. Scheme rules and lender criteria were checked against current government and lender information. Live mortgage pricing should be verified again immediately before application.

Independent Mortgage Information Notice

Building-society.org is an independent informational website. It is not a housing association, Shared Ownership provider, mortgage lender, mortgage broker, Homes England, Welsh Government, Scottish Government or Northern Ireland Co-Ownership.

This guide provides general information rather than personalised financial or legal advice. Shared Ownership leases can contain material restrictions and costs, so use a suitable solicitor or licensed conveyancer and obtain regulated mortgage advice where appropriate.

Your home may be repossessed if you do not keep up repayments on your mortgage. Shared Ownership customers must also comply with their lease and pay rent and other required charges to the housing provider.

Building Society Shared Ownership Mortgage FAQs

1. What is a Shared Ownership mortgage?

A Shared Ownership mortgage finances the share of a property you are buying through an eligible Shared Ownership scheme. You normally pay a deposit and mortgage on your share and rent to the housing provider on the share you do not own.

2. How much deposit do I need for Shared Ownership?

For the standard England scheme, the deposit is usually between 5% and 10% of the share you are buying. For example, if your share costs £100,000, a 5% deposit would be £5,000. Individual lender and national-scheme rules can differ.

3. Which building societies offer Shared Ownership mortgages?

Current specialist building-society lenders include Leeds Building Society, Newbury Building Society, The Cambridge and Principality, among others. Availability depends on the scheme, property, housing provider, share, location and applicant circumstances.

4. Can I get a 95% Shared Ownership mortgage?

Yes, some building societies currently lend up to 95% of the share being purchased on qualifying Shared Ownership cases. That means a deposit equal to 5% of your purchased share may be possible, but affordability and lender criteria still apply.

5. Do I pay rent as well as a Shared Ownership mortgage?

Yes. You normally pay the mortgage on the share you own and rent to the landlord or housing provider on the share you do not own. Service charges, estate charges and other lease costs can also apply.

6. Does Shared Ownership work the same way everywhere in the UK?

No. England, Wales, Scotland and Northern Ireland have different schemes and rules. Northern Ireland uses Co-Ownership, while Scotland also has Shared Equity schemes that work differently from standard part-buy part-rent Shared Ownership.

7. Can I buy more of my Shared Ownership property later?

Usually yes. Buying a larger share is known as staircasing. The permitted increment, valuation process, fees and maximum share depend on your lease and scheme. Some properties do not allow staircasing all the way to 100%.

8. Can I remortgage a Shared Ownership home?

Yes, if the new lender accepts the Shared Ownership scheme, housing provider, lease and property. You may also need housing-provider consent. Some remortgages are combined with staircasing to purchase an additional share.

9. Are Shared Ownership service charges based on the share I own?

Not necessarily. Service-charge liability depends on the lease and development. Shared owners can be responsible for service and maintenance charges even though they own only part of the home’s equity, so review the key information document and lease carefully.

10. Is Shared Ownership cheaper than buying a whole property?

It can reduce the initial deposit and mortgage required, but it is not automatically cheaper overall. Compare the mortgage, rent, service charges, future rent increases, staircasing costs and lease obligations with the cost of buying another suitable home outright.

Leave a Comment