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Enter the property details to calculate your shared ownership costs.
Calculate your total monthly shared ownership costs, deposit needed, and see what your payments look like as you staircase to full ownership.
Enter the property details to calculate your shared ownership costs.
You buy a share of a property (typically 10% to 75%) and pay rent on the remaining share to a housing association. You need a mortgage for your share. Over time you can buy additional shares (staircasing) up to full ownership. It is aimed at people who cannot afford to buy outright.
Rent on the unsold share is typically around 2.75% of the unsold share value per year, charged monthly. It is regulated and reviewed annually, usually rising with inflation plus 1%. On a £300,000 property where you own 40%, you would pay rent on the remaining £180,000 share at 2.75% = approximately £413/month.
Staircasing is buying additional shares in your home over time. You can usually buy in tranches of 10% or more. When you reach 100%, you own outright and stop paying rent. Each staircase transaction requires a new property valuation at current market value.
You must be a first-time buyer, or have previously owned but can no longer afford to buy. Household income cannot exceed £80,000 per year (£90,000 in London). You must be unable to buy a suitable home on the open market. Some schemes have local connection requirements.
For informational purposes only · Not financial advice · Speak to a shared ownership specialist for your circumstances