Shared ownership mortgage calculator
For part buy part rent mortgages: check affordability
Access our Shared Ownership Mortgage Affordability Calculator to get an estimate of how much a shared ownership mortgage might cost you, and also whether the amount you are seeking is realistically affordable for you.
Our Shared Ownership Mortgage Affordability Calculator is separate from lenders' own affordability assessments and is not linked at all to the HCA's affordability calculator that housing associations will use to assess you - such assessments are when you are nearer to actually buying. Our Shared Ownership Mortgage Affordability Calculator is designed to help you in your initial research.
Alternatively, if you have done some initial research and are looking for a specific shared ownership mortgage, you can use our comparison site for part buy part rent schemes to start searching for shared ownership mortgages.
12th August 2016
Intermediate rent, also known as IMR is an affordable housing scheme for those who are unable to afford a suitable home to meet their housing needs on the open market. Eligibility criteria will apply. To find out more about this property for Intermediate Rent in Southampton click the following link to view more information and if you feel you may be eligible to apply, follow the links to contact the housing provider. Two bedroom flat for intermediate rent in Southampton, SO16 Be quick to show your interest, as IMR properties in Southampton are of limited availability.
Click here to begin your search for a intermediate rent properties in the south of England or any area.
10th August 2016
Are you looking for home ownership in Kent? We have brand new Shared Ownership houses in Chatham , ME4 added to our Shared Ownership property portal this month. The Skylark Waters development is a selection of 3 bedroom houses & 2 bedroom houses available to part-buy on St Mary's Island, Chatham. Why not take a look at the 2 bed houses & 3 bed houses in Kent, taking note of the eligibility critieria on display. If you feel you may be eligible, show your interest now by contacting the housing provider. You could potentially take your first step onto the housing ladder with one of these affordable homes in Kent.
Click here to begin your search for a shared ownership property in Kent or any area.
9th August 2016
Part of Southern Housing Group, Southern Home Ownership provide affordable home ownership solutions to people living in Lodnon and the South East. They offer a wide range of developments, from traditional family homes to vibrant city apartments.
Southern Home Ownership are sponsoring the London Home Show Autumn 2016. We spoke to Vikki Walker, Sales Manager at Southern Home Ownership about what you can expect from them at the event.
8th August 2016
L&Q is a leading housing developer and housing association in London. L&Q build homes for a range of tenures, including a large Shared Ownership programme across London.
L&Q are sponsoring the London Home Show Autumn 2016. We spoke to L&Q's Regional Sales Director, Lucy Chitty, about what you can expect from L&Q at the London Home Show.
FAQs: how much deposit?
For any house deposit, including shared ownership and part rent part buy, how much you are required to raise will ultimately depend on your circumstances but here we attempt to provide some generic answers.
How much deposit do I need for shared ownership?
You can potentially buy a share on a part-buy part-rent basis with as little as 5% deposit.
For a shared equity mortgage how much deposit do I need?
Again, potentially 5% but on shared equity schemes you may be able to access 75% LTV mortgages with your 5% deposit rather than 95% for part buy part rent. Please note that this is not a shared equity mortgage calculator.
How much deposit/mortgage do I need with adverse credit?
You are more likely to pass a credit check the larger your deposit, but applicants with serious adverse credit may fail regardless of the size of their deposit. As such, it is not possible to specify a figure.
How much deposit would I need for a mortgage on a new build property?
Many lenders require larger deposits for new build properties than on second hand. With shared ownership there are lenders who will consider a 5% deposit on both new build and second hand but, typically, the high street banks would want deposit in the region of 20-30% for a new build flat on shared ownership compared to 15% if second hand. With new build houses high street banks can be more generous and may consider a 10% deposit.
How much deposit will I need for a mortgage where one of the applicants does not have permanent right to remain?
For shared ownership, we would estimate 20% deposit in this case.
How much deposit do I need for a house purchase with shared ownership where I cannot ever staircase to 100% ownership?
Lending policy in this case is complex but the minimum is likely to be 10% and in practice may be 15%+.
How much deposit to buy a house with FirstBuy?
This is a shared equity scheme and should generally accept a five percent deposit.
How much deposit do first time buyers need?
On the open market this is likely to start at ten percent (though there is very limited availability of 95% mortgages for first time buyers). For shared ownership and shared equity, including FirstBuy, 5% deposits should be possible in standard cases.
How much deposit do you need for a house purchase as a second time buyer?
In most cases first time buyer and latter time buyer deposits will not vary but for specific schemes, such as shared ownership or FirstBuy, there may be a requirement to be a first time buyer that is separate to any mortgage lenders’ general criteria.
How much deposit do I need to buy a house on a second hand shared ownership ‘resale’ basis?
Second hand resales tend to require lower deposits than new build and will start from 5%. In terms of how much deposit you need for mortgages on the open market where the property is second hand, this starts from 10% in most cases.
How much deposit is needed to buy a house abroad?
Please seek advice on this point from an independent financial adviser with experience of overseas property purchases.
How much deposit is needed to buy a house that has been converted?
This depends. If the house has been converted and is now regarded as new, e.g. there is a builders’ guarantee in place, lenders may also regard this as new build and require larger deposits of at least 10% but often 15/20% from the high street banks.
A shared mortgage calculator like the one featured above can provide a good starting point when you need to figure out how much deposit you will need for your purchase.