Shared Ownership: Part Buy Part Rent

Shared ownership is a government backed scheme that lets you buy a share of a home (typically between 25% and 75%) and pay discounted rent on the remainder to a housing association. Over time, you can increase your ownership through a process called staircasing.

You can get a mortgage on the share of the property you buy, let’s say 40% of the property for example. You will then pay rent on the remaining 60%.  This makes the mortgage more affordable than buying a property outright, which can decrease your outgoings, and the initial deposit you required, is based on the share you are buying, not the full property value.

Yes, you can, this is entirely possible but you ought to speak to a bad credit mortgage specialist to find the right mortgage set up for you and a lender that will likely accept. Some specialist lenders accept applications from people with missed payments, defaults, or CCJs and our team can help you find the right lender that will consider your situation fairly.

No, although it is often used by first time buyers.  Shared ownership is open to anyone who meets the eligibility criteria including previous homeowners and anyone who can’t afford to buy a house outright.

You can “staircase” by buying more of your home over time, often in 10% increments. Eventually, you may own 100% which will of course remove the rent element completely.

In Shared Ownership, the process of buying more shares in your home after you have purchased an initial stake, is known as staircasing.

The deposit is entirely based on the share you buy, not the full value of the property. The % amount needed is still the same generally speaking, with between 5-10% being pretty standard.

Example: For a 50% share in a £200,000 home, you may only need a 5–10% deposit on £100,000 — that’s as low as £5,000 in some cases.

Yes, you can. A Mortgage in Principle (also called an AIP or DIP) is often required when buying through Shared Ownership schemes. It shows housing associations and sellers that you’re financially prepared, even if you’re only purchasing a percentage of the property. We specialise in Shared Ownership and can issue your AIP the same day without any fee.

Yes, this process is called “staircasing.” It allows you to buy more of your home in stages over time as you are able to afford it. Many buyers start with 25%–50%, then increase their share up to 100% when ready. We can guide you through this journey so it’s financially sustainable and explain everything form the outset.

Yes, but the rent you pay is subsidised and you don’t pay rent on the share of the property you don’t own.  As it below market rate, your monthly costs are typically lower than private rent. Our advisers can help you understand the full cost breakdown in real terms.

Yes, but it is different. You will usually need to offer your share to the housing provider first (this is known as the “nomination period”). If they chose not to buy it or find a buyer, you can sell your share on the open market like any other sell.

They are more specialist yes, with set criteria – but no harder than any other mortgage no. We work with over 130 lenders, including many which offer flexible products for Shared Ownership buyers. Even if you have variable income or past credit issues, there are often still options.

You can sell your current share and apply for a new one; though each time the mortgage lender/provider will reassess your eligibility. We can help you calculate affordability and explore all options, including staircasing or full ownership.

Yes , being self-employed doesn’t exclude you. It just means we’ll need to present your income clearly to the lender. Most Shared Ownership lenders prefer at least 1–2 years of accounts or SA302s. We specialise in packaging complex cases like this, so you can get an Agreement in Principle with confidence.

In many cases, yes. Shared Ownership typically requires just 5% of the share you’re buying — not the full property value. That means if you’re buying a 25% share of a £300,000 property, your deposit might only need to be around £3,750. We’ll help you confirm affordability based on your exact goals.

You can — many buyers with variable income (like freelancers, contractors, or those with multiple part-time jobs) still qualify for Shared Ownership. It’s about how your income is averaged and explained. Our team knows which lenders are more flexible and how to present your case properly.

Absolutely. Shared Ownership was designed to help families like yours move into safe, stable homes. If your household income is under £80,000 (£90,000 in London) and you can’t afford to buy outright, you could be eligible. We’ll walk you through the process — from eligibility to application.

It might, depending on your personal situation. You may still be entitled to support, but some benefits like Housing Benefit could reduce once you start paying a mortgage and rent. We recommend speaking with an adviser who can assess your full financial picture. We’ll always explain your options clearly.