Shared Ownership mortgages

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illustration of Shared Ownership

What is shared ownership?

Shared Ownership (sometimes called Part Ownership) is where you buy part of a property and rent the rest. You take out a mortgage on the bit you're buying, then pay a reduced rent on the bit you don't own. You’re able to buy between 25-75% of the home, and can buy some or all of the remaining share later on when you can afford to. 

Shared Ownership is only available for new-build homes and some existing properties via specific resale programmes from housing associations. They’re always leasehold, meaning you won’t own the land your property is built on and may have to pay ground rent and maintenance costs.

It helps people who can’t save up a big deposit to still get on the property ladder. For that reason, they’re perfect for first-time buyers. 

Because you start off by buying a small share in the property, you’ll need a smaller deposit than you would if you were getting a full mortgage without shared ownership. Over time, you’ll be able to purchase the remaining shares – a process known as staircasing – and can stop paying rent on the property. 

Not all lenders will help you if you want to get a Shared Ownership mortgage, because they’re not set up for the extra complexity. You’ll need an experienced mortgage broker to find you the right lender. That’s where we come in! Make an enquiry to get matched to a Shared Ownership mortgage broker who can help you.

Got questions?

How does Shared Ownership work?

Can I buy the remaining percentage at a later date?

Who is eligible to buy a shared ownership property?

How much deposit do I need for a shared ownership property?

Can I get a shared ownership mortgage with bad credit?

Why use Haysto?

We get how it feels when you’re refused a mortgage. We’ve been there. Haysto exists because the mortgage world is broken. If you don’t have a shiny credit rating, you’re self-employed with a complex income, or just don’t fit the mould, the odds are completely stacked against you. We just don’t think that’s fair.

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We help when others won’t

Unlike others, we only work on bad credit, self-employed and complex mortgages. That’s all we do. And we’re up for a challenge.

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No robots, no automated answers. We use technology to connect you to a real person. Not replace them.

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We only get paid when your mortgage is approved.

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Applying for a mortgage or understanding your options shouldn't be confusing, yet there are just so many myths doing the rounds and it's not easy to know where to turn to get the right advice.

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