Shared Ownership
Expert Shared Ownership Mortgage Advice and Services
Shared ownership is a government-backed scheme that enables you to buy a share of a property—typically between 25% and 75%—with a smaller deposit, while paying rent on the remaining share. This arrangement is designed to help people buy a home who might otherwise be unable to afford to purchase outright, making homeownership more accessible for first-time buyers and those with limited savings.
In a shared ownership arrangement, the housing association or developer acts as the landlord, owning the remaining share of the property and charging you rent on that portion. The landlord is responsible for managing the property’s lease and reviewing rent increases in line with the scheme’s rules. Shared ownership offers a practical route to becoming a homeowner, even if you start by owning only a portion of your home.
Introduction to Shared Ownership
Shared ownership is a government backed scheme designed to help more people achieve home ownership, especially in areas like London and across England where house prices can be a barrier. Under this scheme, you buy a share of a property—typically between 10% and 75%—and pay rent on the remaining portion to a housing association or developer.
Deposit Needed
The deposit required is usually a minimum of 5% of the share you are purchasing, making it more accessible than a standard property purchase.
Mortgage and Rent
You take out a mortgage to buy your share and pay subsidised rent on the remaining share you do not own.
Eligibility
To qualify, your household income must be less than £80,000 per year (£90,000 in London). You must also be able to afford the mortgage and rent payments, and meet the scheme’s eligibility criteria.
Shared ownership offers a practical route to home ownership for those who cannot afford to buy a property outright, with lower upfront costs and a clear path to increasing your share over time.
Professional Shared Ownership Mortgage Guidance
Get on the property ladder with shared ownership mortgages tailored to your financial situation.
Step by Step Financial Solutions provides specialist mortgage advice for shared ownership properties across Hampshire, London, and neighbouring regions. As an experienced whole-of-market broker, we access shared ownership mortgage products from dozens of lenders—not just a limited panel. Our transparent fee structure means you know exactly what you’ll pay: £395 for shared ownership purchases, with no hidden costs.
Why Shared Ownership is Perfect for Your Situation
Shared ownership is a government backed scheme with over 30 years of history, designed to help buyers who cannot afford to purchase a property outright. Through this scheme, you buy a share of a home (typically between 10% and 75%) while paying rent on the remaining portion to a housing association or private developer. When the right mortgage is in place, shared ownership work becomes your pathway to home ownership.
Lower Deposit Requirements
The deposit required for a shared ownership property is typically a minimum of 5% of the share being purchased. This applies whether you are buying a new home or a resale property through shared ownership. For example, buying a 25% share of a £300,000 home means a deposit of just £3,750—far more affordable than a standard purchase.
Reduced Monthly Payments
Shared ownership can make home buying more affordable in the short term, allowing individuals to enter the property market with a smaller deposit and mortgage payment. Your mortgage covers only your share, keeping monthly commitments manageable.
Property Ladder Access
With house prices remaining high across the country, shared ownership allows first time buyer households to become homeowners sooner than traditional buying permits.
Staircasing Opportunities
Staircasing refers to the process of buying additional shares in a shared ownership property, which increases your ownership percentage and reduces the rent you pay on the remaining share. Homeowners can typically staircase up to 100% ownership of their property, although some housing providers may impose restrictions. Buyers may need to pay stamp duty when purchasing their share, depending on the value and whether they are first-time buyers.
Professional expert advice ensures you understand eligibility rules, affordability requirements, and how shared ownership homes fit your future plans.
Our Shared Ownership Services
Step By Step Financial Solutions offers comprehensive support for every stage of the shared ownership journey—from initial eligibility assessment through to completion and beyond. Once you have chosen a property and arranged your finances, you will typically pay a reservation fee to secure your chosen home before proceeding with the purchase.
First-Time Buyer Shared Ownership
Our specialist service guides first time buyer clients through the entire process. To be eligible for the Shared Ownership scheme, your household income must be less than £80,000 per year (£90,000 in London). Eligibility for Shared Ownership also requires that you are either a first-time buyer or do not currently own a home.
We help you understand maximum household income limits, determine an affordable share size, and identify suitable new shared ownership home options or resale property opportunities. In the UK in 2026, the shared ownership scheme is primarily used for new-build homes, though resale homes are also available.
Shared Ownership Remortgages
Already own a shared ownership property? Remortgaging can secure better rates, reduce your mortgage payments, or fund staircasing to increase your ownership percentage.
We navigate the additional steps involved—including housing association consent, property valuation, and solicitor coordination. Remortgaging shared ownership properties typically takes around six weeks from offer to completion, and our whole-of-market access means we find competitive deals other brokers might miss.
Top 10 Shared Ownership Mortgage Lenders
Offering shared ownership scheme deals
Leek Building Society 95% LTV Fixed
Competitive rates often with no valuation or product fees—ideal for buyers with smaller savings.
Chorley Building Society 5-Year Fixed
Up to 95% LTV , with no application fees option for long-term security.
NatWest Shared Ownership
Available via brokers with green fixed rate options and support for new builds at up to 95% LTV.
The Tipton 3-Year Fixed Remortgage
Up to 95% LTV on your share —excellent for existing owners seeking better terms.
Halifax Shared Ownership Range
Competitive rates for shares from 10-75%, with flexible terms for both purchase and remortgage.
Nationwide Shared Ownership
Strong high street option with products for new build and resale shared ownership houses.
Leeds Building Society
Manual underwriting approach suits buyers with non-standard income or employment patterns.
Barclays Shared Ownership
Reduced fees and competitive fixed rates for eligible first time buyers.
Coventry Building Society
Offers shared ownership mortgages with straightforward application process and clear criteria.
Skipton Building Society
Good for staircasing scenarios where you want to buy more shares and need additional borrowing.
Market Value and House Prices
The market value of a property is central to how the shared ownership scheme works. The price you pay for your share is based on the current market value of the property, as determined by an independent valuation.
Example:
If the market value of a property is £200,000 and you purchase a 50% share, your purchase price is £100,000. You then pay rent on the remaining 50% owned by the housing association.
Rent on the Remaining Share: The rent you pay is typically set at a subsidised rate, making the overall cost of ownership more affordable compared to renting on the open market.
House Prices: As house prices fluctuate, the value of your share and the cost to buy more shares in the future (known as staircasing) will reflect the current market value at the time of purchase. This approach ensures that shared ownership properties remain accessible and affordable, helping more buyers get onto the property ladder.
The New Shared Ownership Model
The new shared ownership model, introduced in 2021, is designed to make the scheme even more affordable and flexible for buyers. Key features of the new model include:
Lower Minimum Share
Buyers can now purchase as little as 10% of a property, reducing the deposit and mortgage needed to get started.
Capped Annual Rent Increases
Annual rent increases are now limited to 2% plus RPI, providing greater security and predictability for homeowners.
Essential Repairs Fund
For the first 10 years, a repair and maintenance fund covers essential repairs, reducing unexpected costs for new buyers.
Applies to New Homes
The new shared ownership model applies to properties built from 2022 onwards, while the existing scheme remains available for homes built before this date.
These changes make the shared ownership scheme more attractive and accessible, especially for first-time buyers and those who cannot afford to buy a property outright, offering more affordable entry points and increased security for the future.
Our Shared Ownership Mortgage Process
Step 1: Initial Consultation and Eligibility Check
Your journey begins with a comprehensive 2-hour consultation. We assess whether your household income falls within eligibility limits (£80,000 outside London, £90,000 in London), review your deposit and savings, and determine what share you can afford. The process of buying a shared ownership home involves completing an affordability assessment, and we handle this thoroughly before proceeding.
Step 2: Property Search and Selection
We guide you through finding suitable shared ownership properties—whether new shared ownership model homes from developers or resale homes through housing associations. You’ll understand the differences in lease terms, service charge structures, and completion date expectations. When selling your share in a shared ownership property, the housing association often has a set period to find a buyer before you can list it on the open market—important context if you’re considering resale properties.
Step 3: Mortgage Application and Agreement in Principle
Our whole-of-market search identifies the best mortgage products for your circumstances. We secure an Agreement in Principle based on your share value, giving you confidence when making offers. You need to have a deposit of at least 5% of the share you want to buy in a Shared Ownership property, and we ensure your finances align with mortgage lender requirements.
Step 4: Completion and Ongoing Support
We coordinate with your solicitor and the housing association through to completion, ensuring all legal aspects—including lease arrangements and housing association consents—proceed smoothly. Post-completion, we provide advice on staircasing opportunities, future remortgaging, and building toward full home ownership.
Customer Success Stories
“Shared ownership made our path to ownership achievable with just an £8,000 deposit and dynamic monthly support. The staircasing plan gives us total confidence.”
Sarah T.
Hampshire First-Time Buyer
“After three years in our shared ownership home, we wanted to buy additional shares and remortgage for a better rate. The process was handled smoothly and efficiently.”
David and Emma R.
London Homeowners
“As a single buyer in London earning under the maximum household income limit, I thought home ownership was impossible. I am now officially on the property ladder.”
Michael K.
First-Time Buyer
Frequently Asked Questions
Start Your Shared Ownership Journey Today
Take the first step toward home ownership with expert support from SBS Finance. Our whole-of-market access, experienced advice, and specialist shared ownership knowledge mean you receive guidance tailored to your circumstances—whether you’re a first time buyer, looking to remortgage, or planning to buy additional shares through staircasing.
Shared ownership opens doors that might otherwise remain closed. With the right mortgage and professional support, you can build toward owning your home outright while paying less rent than the open market demands.
Phone
03456 461 941Service Areas
Hampshire, London, and neighbouring regions