Shared ownership mortgages
Latest news: shared ownership mortgage calculator at 95%
Share to buy have updated their shared ownership mortgage calculator to take account of the fact that it is once again possible to obtain a shared ownership mortgage for 95% of the share. Of course, you may have a larger deposit to play with and the calculator enables people considering purchasing a shared ownership property to see how a different deposit might affect their monthly outgoings. It should be noted that the shared ownership mortgage calculator is for part buy part rent rather than shared equity property schemes such as homebuy direct.
Help with shared ownership mortgages
This website, shared-ownership.org.uk, is provided by Share to buy – a mortgage brokerage specialising in the shared ownership field. At sharetobuy.com, we can arrange a Shared Ownership mortgage for you without charging a fee, and have access to a wide range of Shared Ownership and homebuy mortgage lenders covering new build homebuy, homebuy direct and resales of existing shares. You can use the following links to find out more about shared ownership mortgages and how we might be able to help:
- Shared ownership mortgage calculator: our calculator is linked to daily updated mortgage rates from the main UK mortgage lenders and, as such, you can use this tool for a robust estimate of both how much you might be able to borrow and how much a shared ownership mortgage might cost.
- Shared ownership agreement in principle: many housing associations require you to have a shared ownership mortgage agreed in principle so that they can offer you a property and we provide a straightforward application in order to obtain your mortgage in principle. If a housing association has already offered you a property and you want to apply in full, when you pass the agreement in principle you can log back in to give us the property details.
- Staircasing and shared ownership remortgages: click here if you are looking to staircase (i.e. buy more shares in your existing shared ownership property) or remortgage your existing shared ownership deal – or both. If you want to staircase to buy 100% of your property, this is usually straightforward and because we are whole of the market brokers, in this situation we can usually offer you a very broad choice of products beyond the usual shared ownership providers (depending on your circumstances).
- Shared ownership solicitors: click here for information on solicitors with experience of shared ownership mortgages.
About share to buy
Share to buy is a whole of the market mortgage brokerage specialising in shared ownership mortgages and we don't charge any fees. Our experienced staff have helped hundreds of people right across the UK to buy their first home with a shared ownership mortgage.
Further questions on shared ownership mortgages
Can I use any mortgage lender?
Not all lenders will offer shared ownership mortgages. Of those that do, some, particularly the smaller building societies, may restrict their lending to local postcodes. Even when a provider will lend on shared ownership properties, it can be confusing because there is huge variation in how much deposit different lenders require for different types of shared ownership property. For example, some lenders require a larger deposit for a shared ownership house than they do for a shared ownership flat (particularly new builds). So, it can pay to use a broker such as Share to buy with experience of the shared ownership mortgage market.
How much deposit will I need?
This can vary. If you use our shared ownership mortgage calculator it is programmed with up to date lending policy from all the shared ownership providers and if the amount of deposit you enter is not sufficient it will show you the minimum required. Generally, 10% is the minimum but it can be more than this depending on your circumstances and the type of shared ownership property you are buying. Certainly, the bigger the deposit, the better your mortgage rate is likely to be.
Your mortgage calculator asks for the rent and service charge – how do I know what this is?
Please consult your housing association for cost figures on individual shared ownership properties.
Shared ownership mortgage calculator
Linked to daily updated mortgage rates.
Get a robust estimate of your borrowing potential and likely cost.
Share To Buy
We specialise in shared mortgages. With friends, family or a housing association. And we won't charge you a fee!
If you have any difficulties in making payments on your shared ownership mortgage, please contact your mortgage provider or housing association immediately.