we’re the shared ownership mortgage specialist

Another great way to buy your home!

If you would like to own your own home but can’t afford to buy on the open market, we can help you to secure a Shared Ownership mortgage…

That means you have the chance to buy a share of your home (between 25% and 75% of its value) at the same time as paying an affordable rent on the remaining share. You could buy more shares, known as staircasing, later when you can afford to, eventually owning 100% of your home.

If you already have a Shared Ownership mortgage, it could be time to review it and make some valuable savings. We work with many Housing Association clients, so get in touch with our team of Shared Ownership specialists today to see how we can help.

You could buy a home through Shared Ownership in England if:

Your household earns £80,000 a year or less outside London, or your household earns £90,000 a year or less in London

You are a first-time buyer, you used to own a home but can’t afford to buy one now or are an existing shared owner looking to move

Shared Ownership is a lower cost way to buy a newly built home or an existing one through resale programmes from housing associations.

You’ll need to take out a mortgage to pay for a share of the home’s purchase price and any deposit will be 5-10% of the price of the share, not the full market value. Shared Ownership properties are always leasehold.

Find the best
mortgage deals,
try out our shared
ownership calculator today!

shared ownership calculator calculator
 
Only military personnel will be given priority over other groups through government funded shared ownership schemes.
However, councils with their own shared ownership home-building programmes may have some priority groups, based on local housing needs.

you can call our specialist Shared Ownership Mortgage advisers anytime or click below to request a call back

0333 340 8888

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Why we’re the best for Shared Ownership Mortgages

instant access to the best rates & deals

stress-free process with the mortgage brain

understanding of the shared ownership process

expert advice from fully qualified advisers

shared ownership faqs

Will I need to provide a deposit?

Yes. The deposit for a Shared Ownership home is usually between 5-10% of the share you are buying, not on the full value of the property. So, if a property costs £500,000 on the open market and you are buying a 25% share – equivalent to £125,000 – a 5% deposit on your share would be £6,250.

How much rent would I have to pay with Shared Ownership?
You will pay a subsided rent to the housing association on the percentage of the property that you don’t own.
Will I have to pay stamp duty?
First time buyers in Shared Ownership homes will pay zero Stamp Duty on the first £300,000 of any home that costs up to £500,000. If stamp duty is payable, there are 2 ways to pay either make a one-off payment based on the total market value of the property or pay any SDLT due in stages. The calculation of Stamp Duty payable can be complicated so seek advice from your solicitor on the amount payable to see what your best options are.
Can I buy the property jointly with someone else?
Yes. However, all buyers will have to meet the Shared Ownership and mortgage lender criteria.
Will my Shared Ownership rent increase?
Yes. You can expect the rent to increase annually, check the terms of your lease carefully.
What other charges should I be aware of?
You will have to pay solicitors costs, stamp duty, mortgage arrangement fees, monthly service charges and annual ground rent. Of course, once you own the property you will also have to cover general utility bills, insurance, etc.

selling your home

If you own 100% of your home, you can sell it yourself, however, the housing association has the right to buy the property back first. This is known as first refusal and the housing association has this right for 21 years after you fully own the home. If you own a share of your home, the housing association has the right to find a buyer for it.

Meet our specialist Shared Ownership Mortgage team
simon faure
CeMAP
Mortgage & Protection Specialist
0333 340 8888
rory whittern
CeMAP
Mortgage & Protection Specialist
0333 340 8888
alex jarman
CeMAP
Mortgage & Protection Specialist
0333 340 8888
kind words from our clients

It’s our first time to use The Mortgage Brain and they did not disappoint! What a brilliant team. They will guide you all throughout the process, which is very helpful to us as shared ownership buyers. They are quick and responsive to emails, transparent, and very efficient. Amazing customer service.

Dianne Tividad

can’t find what you are looking for?

You can call one of our expert mortgage & insurance advisors anytime or click below to request a call back.

0333 340 8888

Email us

request a call back