Residential Shared Ownership

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Shared Ownership Mortgages

Typically, clients we successfully assist with shared ownership mortgages tell us of the difficulty they have experienced in trying to arrange the most competitive mortgage finance on the home they wish to purchase under the shared ownership scheme. Often they express their frustration in finding an appropriate lender, given the thousands of mortgages advertised nationally and the restrictions some lenders apply to loans on shared ownership purchases. They are aware of the array of different comparison websites, direct lender deals and all the numerous brokers. They usually have seen some of the products which are available, but are concerned by all the additional charges made by lenders, increasing the overall costs on a mortgage deal. They usually have undertaken their own detailed homework but are sometimes left unsure how to conclude their mortgage search.

Mortgage Chain has access to a large selection  of shared ownership mortgages that allow you to purchase as little as 25% share in a sizeable housing association house; move straight in, and then increase your level of ownership over time.

The deposit amount is based on the amount of share purchased eradicating the need to have large deposits and Mortgages for a new home.

Overtime as employment prospects increase or your partner starts work for example, you can purchase your property in stages until you own the full amount.

The remaining share (That you do not own) you would pay a small rent to the housing association. This can be a fantastic solution to stay in the location you prefer and live in the property suited to your requirements.

See the tables below which give you an indication of houses you could purchase based on your income:

5% Deposit

Income Purchase price 25% share Deposit Mortgage
£15,000 £247,480 £61,870 £5,620 £56,250
£20,000 £330,000 £82,500 £7,500 £75,000
£25,000 £412,500 £103,125 £9,375 £93,750

10% Deposit

Income Purchase price 25% share Deposit Mortgage
£15,000 £400,000 £100,000 £10,000 £90,000
£20,000 £540,000 £135,000 £13,500 £120,000
£25,000 £660,000 £165,000 £15,000 £150,000

5% Deposit

Income Purchase price 50% share Deposit Mortgage
£20,000 £200,000 £100,000 £5,000 £95,000
£30,000 £300,000 £150,000 £7,500 £142,500
£40,000 £400,000 £200,000 £10,000 £190,000

10% Deposit

Income Purchase price 50% share Deposit Mortgage
£20,000 £200,000 £100,000 £10,000 £90,000
£30,000 £300,000 £150,000 £15,000 £135,000
£40,000 £400,000 £200,000 £20,000 £180,000

5% Deposit

Income Purchase price 75% share Deposit Mortgage
£45,000 £300,000 £225,000 £11,250 £213,750
£80,000 £500,000 £375,000 £17,500 £357,500
£100,000 £700,000 £525,000 £26,250 £498,750

10% Deposit

Income Purchase price 75% share Deposit Mortgage
£15,000 £300,000 £225,000 £22,500 £202,500
£20,000 £500,000 £375,000 £37,500 £337,500
£25,000 £700,000 £525,000 £52,500 £375,000

East & South East Shared Ownership Team:

> 01245 333 222


London, Shared Ownership team:

> 020 3701 9787