Shared Ownership Mortgages

What is a shared ownership mortgage?

A shared ownership mortgage, which is sometimes called a part-buy and part-rent mortgage, allows potential buyers to buy a share in, typically, a new build property. Rather than owning the entire house, your mortgage will cover the assigned share that come under your share and pay rent on the remaining share.

A shared ownership mortgage in the UK lets you buy a share (25-75%) of a property and rent the rest from a housing association. It’s like “part rent, part buy” with a lower deposit and monthly costs, but you don’t own the whole place. Think of it as a stepping stone to full ownership through a process called “staircasing” where you buy more shares over time.

Do I qualify for a shared ownership mortgage?

There are a few criteria that you need to meet in order to take out a shared ownership mortgage:

  • Your household income is less than £80,000 a year.
  • You are at least 18 years old.
  • You must prove that you’re not in rent arrears.
  • You have a good credit history and can demonstrate that you can afford the mortgage payments and rental payments.

Staircasing a shared ownership mortgage

Shared ownership mortgages are very flexible, as there’s the option to buy a bigger share in the property further down the line. Additional shares can be purchased, making it possible to increase your share if your fellow owners are happy for you to do so.

Please note that you will need to have the property valued by a RICS surveyor and then contact your housing provider to start the process. You will also need to instruct a solicitor to act on your behalf.  See our Trusted Partners page.


Your home may be reprocessed if you do not keep up repayments on your mortgage.




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Financial advisory in Worcestershire and Kent

Based in Droitwich Spa, we’ve proudly supported clients of all ages since 2004. The opening of our second office in Sevenoaks allowed us to extend our bespoke financial services even further, making SN Financial a trusted financial adviser for individuals, couples, families and businesses across Worcestershire, Kent and the rest of the UK.

Droitwich Office

5 Saltway, Droitwich, Worcestershire, WR9 8LB
01905 779697

Sevenoaks Office

46 Holly Bush Lane, Sevenoaks, Kent, TN13 3TL
01732 926255