Looking for Ipswich Building Society? We’ve changed our name! Find out more. | We’ve won Best Building Society 2022 in the British Bank Awards! – Find out more.

Shared ownership mortgages.

Shared Ownership

A shared ownership mortgage can help borrowers get onto the property ladder.

Here to help

Find a shared ownership mortgage.

Tips for shared ownership

Shared ownership mortgage
criteria at a glance.

  1. We have a maximum LTV limit of 95% of the share being purchased, and no more than 80% of the full market value.
  2. A minimum share applies, generally this is 25%.
  3. All shared ownership schemes must be via a housing association.
  4. We’ll lend on new build houses and flats.
  5. We will consider flats above 5 stories on a case-by-case basis, only where the property is located in Suffolk, Norfolk, Essex, Cambridgeshire, Hertfordshire, Bedfordshire and London.

Read on for more information about shared ownership mortgages.


All you need to know about
shared ownership mortgages.

Created to help people who can’t afford to buy a home, shared ownership is a scheme offered through a housing association with buyers typically purchasing a 25% to 75% stake in one of their homes, paying affordable rent on the remaining portion. Buyers then arrange a shared ownership mortgage to help fund the purchase element. Through the shared ownership mortgage the buyer might be able to access deals requiring just a 5% deposit or a 10% deposit of the share being purchased, often making it a more affordable option.

For example, if you were buying a property for £150,000 and needed a 95% loan to value mortgage you’d need to stump up £7,500 as a 5% deposit. However, if you’re only purchasing 40 per cent of the property through a shared ownership scheme, then you’d only be required to put down a £3,000 deposit initially – that’s quite a difference. Of course, you’d then need to factor in your monthly mortgage repayments and the housing association rental payments.

Generally housing associations will offer something called ‘staircasing’, which is where shared ownership homeowners can increase the share they own to eventually become the sole owner. This will be subject to the conditions of your property and the purchase agreement, and the cost of purchasing additional shares will depend on the value of your home at the time. You may be able to borrow more through a shared ownership remortgage in order to fund the purchase.

Typically most shared ownership mortgage products will be available for purchase or remortgage. With a shared ownership remortgage you may be able to increase the amount you borrow if you want to increase your ownership stake in the property (known as staircasing).

No. As these are offered through a housing association you will need to find specific properties which would be eligible to purchase through the shared ownership scheme. If you have found a home which is not a shared ownership property you may wish to research different options, such as 5%, 10% or 15% deposit mortgages. If you are a first time buyer we have put together a guide explaining more, so head over to our first time buyer page.

No. Shared ownership properties are typically available whether you are a first time buyer or have previously owned a home, or rented, either privately or through a council or housing association.

If you have a gifted deposit from a family member you will usually be able to use this towards your shared ownership mortgage, depending on certain criteria. For example, it may be acceptable for loans up to 90% loan to value but for 95% loan to value you may also need to evidence twelve months rental history. Make sure you check the details carefully to see any restrictions which may apply.

If your home is still on a shared ownership scheme, so a portion is still owned by the housing association for which you pay rent, you will need to check the conditions of your property and the purchase agreement. Generally your housing association will find its own buyer – you won’t be able to advertise your home on the open market.

However, if you used the staircasing option to purchase additional shares in your property to own it outright (or funded through a residential mortgage), and no longer have a shared ownership mortgage or agreement with the housing association, you may be free to enlist an estate agent and sell your house. Again this depends on the original terms of your purchase so check the details carefully.


We have conversations, not algorithms.

Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than then numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider all applications on an individual basis.

Ready to go? We’d love to hear from you. Get in touch with our friendly and knowledgeable team.

Prefer to talk?
Call 0330 123 0723

Contact us

    Your browser is out-of-date.

    Welcome to our new website. This site is not fully supported in Internet Explorer.
    Please download one of the browsers below to continue using this website.

    • Google Chrome
    • Microsoft Edge