Shared ownership

Shared ownership gives your client the opportunity to buy a share in a property under a lease, usually from a housing association or local authority who will in turn own the remaining share. Over time your client has the opportunity to increase their share of the property (staircasing). We offer specific Shared Ownership products to support the specialist nature of these arrangements.


ⓘ Shared Ownership Site Limits

 

Please note we are no longer accepting Shared Ownership applications on the following sites due to exposure limits.

  • Strand View
  • Daleside Road, Nottingham, NG2 3LR/ NG2 3LZ/ NG2 3GG

What you need to know before submitting an application

  • The Illustration must be produced at DIP and not at Illustration stage
  • We will lend up to 95% of the borrowers share of the property - including new build houses
  • We will lend up to 85% of the borrowers share of the property - including new build flats.
  • Maximum share of the property to be purchased - 75% of the full property value - including new build houses & flats
  • When completing the affordability calculator, the shared ownership rent must be declared together with any maintenance or service charges that apply. Please only enter 100% of the current monthly rental figure within the affordability calculator. The calculator will take into account the likely increases to the rental payment in the next 5 years.
  • Staircasing available up to 80% by way of a further advance (in increments equal to or above 5%)
  • Capital repayment only
  • Purchase only
  • Applications are permitted where a 6 April 2010 or later model lease is in place.
  • Applications are permitted from Registered Providers listed on the Government website
  • Section 106 permitted:
    • Restriction on the resale of the property only permitted where the scheme provider has an option to buy back the customer’s share at full market value for a period of no more than three months. The Society must then be able to staircase to 100% and sell the property on the open market at its full market value and no further restrictions may apply.
    • The mortgagee protection provisions in the lease must be unaffected by any restrictions.

    Shared ownership customer fact sheet

    As a responsible lender we're always looking at ways we can provide customers with the information they need to enable them to make an informed decision. We've developed a `Shared ownership customer fact sheet' for you to share with your clients when discussing shared ownership mortgages with them. 

    View fact sheet

    How to submit a Shared Ownership application

    View guide

    Our Shared Ownership products

    View products