Shared Ownership Mortgage

A shared ownership mortgage allows you to buy a share of a property (usually between 25% and 75%) and pay rent on the remaining portion, often with the aim of increasing your share over time. This type of mortgage can make homeownership more accessible for first-time buyers or those unable to afford a full property purchase immediately. However, shared ownership involves ongoing costs, rent payments, and potential restrictions that need careful consideration.

We provide clear, tailored advice on shared ownership schemes, taking into account your income, deposit, and long-term housing plans. Recommendations are subject to lender and housing association criteria, affordability assessments, and property valuation. We help you understand the risks and obligations, including rent increases, staircasing costs, and resale conditions.

It is important to understand that shared ownership mortgages may not suit everyone. We ensure you are fully informed about monthly payments, future financial commitments, and how this arrangement interacts with your wider financial planning. Protection options and contingency planning can also form part of a responsible approach.

• Assess eligibility and affordability
  We review your income, deposit, and circumstances to determine suitability for shared ownership schemes.

• Explain the scheme clearly
  We outline how shared ownership works, including rent, staircasing, and potential future costs.

• Support with mortgage application
  From application to mortgage offer, we liaise with lenders and housing associations to guide you through the process.

• Consider long-term implications
  We help you understand ongoing costs, rent adjustments, and how staircasing impacts your ownership.

• Provide ongoing support
  Even after completion, we remain available to review your mortgage and advise if circumstances or objectives change.