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Shared ownership mortgages

Buy a share of a home and pay rent on the rest

When you part-buy, part-rent a home through shared ownership, you can apply for a smaller mortgage amount – so your deposit could be lower, too.

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

How does part-rent, part-buy work?

  • It means buying a share of a home from a housing association and paying rent on the rest – that’s why it’s called shared ownership
  • The property is bought from a housing association, arranged by a local Help to Buy agent
  • You buy between 25% and 75% of the property from a housing association
  • Then you take out a mortgage for your share and pay rent on the remainder to the housing association
  • You can buy a larger share later at a price based on the value of the property at the time

Who’s eligible for shared ownership?

To apply for a mortgage with us through a shared ownership scheme, your combined income has to be less than £80,000 if you live outside of London, and less than £90,000 if you live inside London. 

You also need to

  • Be a first-time buyer, or have owned a home
  • Plan to live in the property and not rent out any part of it
  • Have the permanent right to live in the UK

How to get started with shared ownership

To buy a home through a shared ownership scheme, you’ll need to contact the Help to Buy agent in the area you want to live. The following pages explain everything you need to know for the country you’re buying a property in.

England (London): Share to Buy

England (outside London): Help to Buy

Northern Ireland: Co-ownership

Scotland: Shared ownership

Wales: Shared ownership

More questions about shared ownership

Can I part-buy, part-rent any property? You can’t part-buy, part-rent any property – it has to be a property managed by a housing association, which you can find through a local Help to Buy agent.

What deposit do I need for a shared ownership mortgage? A deposit for a shared ownership mortgage is typically between 5% and 10% of the value of the share you’re buying – not the full purchase price. For example, if you planned to buy a 50% share of a property worth £300,000, the value of your share would be £150,000. So you’d need £15,000 for a 10% deposit or £7,500 for a 5% deposit.

How much is rent on part rent part buy? The rent element of a part-buy, part-rent arrangement varies on the property price and the share you want to buy. It’s typically around 3% of the value the housing association owns. For example, if you bought 50% of a £300,000 property, you could be asked to pay yearly rent of about 3% of £150,000 – which is £4,500 a year, or £375 a month.

How to apply

If you’ve already been in touch with your local Help to Buy agent, book an appointment with one of our mortgage advisers.

Call us

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0345 734 5345

Starting your mortgage application

Get ready to apply

Find out how to book an appointment to start your mortgage application, and see the list of documents and information you’ll need to provide.

Visit a branch

Find a branch near you that offers appointments with mortgage advisers and see when we’re open.

More ways to buy your home

Family Springboard Mortgage

Buy your home with help from a loved one

Saving for your first home isn’t easy – now family and friends can help with the deposit.

Help to Buy equity loans

Top up your deposit with an equity loan

With a Help to Buy equity loan, you can add to your deposit on a new-build property, whether you’re a first-time buyer or buying a new home.

Joint and guarantor mortgages

Buying property with other people

Buying property with your partner, family or friends can make sense, as long as you weigh up the benefits and risks of taking out a joint or guarantor mortgage.

Need some help?

Chat to us online

Start a web chat if you have a question about applying (we can’t give advice about choosing a mortgage during web chats).

Visit a branch

Find a branch near you that offers appointments with mortgage advisers and see when we’re open.