This comparison includes every mortgage you can use to buy a shared ownership property in the UK.

How do shared ownership mortgages work?

These come from a mortgage lender, and you can use them to buy between 25% and 75% of a home. A housing association owns the rest of your home, and you pay rent to them.

For example, if you got a mortgage to buy 75% of a 200,000 property, your share would be worth 150,000. You would pay rent on the remaining 25% that is owned by the housing association.

How much does it cost?

You usually have to pay:

The mortgage

You take out a mortgage on the portion of the property that you own. You can check how much the mortgage will cost using a shared ownership calculator.

Getting a mortgage and buying a house also comes with several other fees and costs like the interest rate.

A deposit

This is the amount you need to pay towards buying your home. It is 5% or more of the share of the property you buy. For example, if you bought a 50% share of a 200,000 house, your share would be worth 100,000. A 5% deposit on this amount would be 5,000.

Rent

The housing association charges rent on the share of the property they own. The more of your property you own yourself, the less rent you pay.

Shared ownership remortgages

If you already own your home through the scheme, you could save money by getting a shared equity remortgage if you can find a cheaper deal.

Find the best mortgage using this shared ownership comparison, which includes every deal available in the UK.

Staircasing with a remortgage

This is when you increase your share of the property by buying more of it when you remortgage. Although increasing the share that you own will raise your mortgage payments, you will get a discount on your rent and you could eventually own your home outright.

Shared ownership mortgage FAQs

Q

Am I eligible for shared ownership?

A

Yes, if your household income is 80,000 a year or less. If you live in London the limit is 90,000.

Q

How can I save a deposit?

A

Here is how to save up for a deposit. Saving more gives you a better chance of being accepted and could help you get a cheaper mortgage.

Q

Does my credit record matter?

A

Yes, it will show lenders if you can keep up with repayments on a mortgage, so bad credit could put them off. Here is why your credit record matters.

Q

Can I afford a mortgage?

A

Check if you can afford one by working out how much you earn and spend. Compare this to how much buying a home will cost you.

Q

What is a part buy part rent mortgage?

A

This is another name for a shared ownership mortgage.

Q

Can I use a broker?

A

Yes, this mortgage broker could help you find a suitable mortgage by looking at your financial circumstances.

About our mortgage comparison

Q

Who do we include in this comparison?

A

We include mortgages from every lender in the UK. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.

Q

How do we make money from our comparison?

A

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.