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Shared Ownership Mortgages
Our shared ownership mortgages are available up to 95% share (75% LTV) on qualifying properties across England and Wales with pre-approved housing associations registered with the Homes and Communities Agency or Help to Buy Wales Ltd.
All mortgage applications are assessed on a case by case basis by our mortgage team without the use of automated credit scoring systems.
Our flexible criteria for shared ownership includes:
- Defaults ignored over 36 months ago, whether satisfied or not
- Debt Management Plans satisfied over 36 months ago accepted
- Up to 2 missed payments on credit cards in the last 24 months with none in the last 6 months
- Houses and purpose built flats of up to 4 storeys constructed since 2003
- Our products revert to a discounted follow-on rate rather than SVR to keep payments down for the lifetime of the mortgage and support affordability stress tests
Find out more about our shared ownership products below.
We have 2 products available
Shared Ownership Fixed Rate until 30 September 2030 – SX-041
| Term | Until 30 September 2030 |
| Initial Rate1 | 5.39% |
| Overall Cost For Comparison2 | 6.4% APRC |
| MAX LTV3 | 95% of the share being purchased, 75% property value |
| Early Repayment Charge | 3% until 30 September 2028, 2% until 30 September 2029, 1% until 30 September 2030 |
| Product Fees | None |
A mortgage of £86,000.00 payable over 40 years initially on a fixed rate of 5.39% until 30 September 2030 then on our follow-on rate of a 1.74% discount off our standard variable rate (currently 8.29%) giving a rate of 6.55% variable for the remaining 34 years 9 months would require 62 monthly payments of £437.40 and 417 monthly payments of £501.33; plus one initial interest payment of £393.69.
The total amount payable would be £237,067.10 made up of the loan amount, plus interest and fee(s) totalling £151,067.10. This includes Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£125).
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Shared Ownership 2 Year Fixed Rate – SX-037
| Term | 2 years |
| Initial Rate1 | 5.99% |
| Overall Cost For Comparison2 | 6.7% APRC |
| MAX LTV3 | 95% of the share being purchased, 75% property value |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | None |
A mortgage of £110,200 payable over 27 years initially on a fixed rate of 5.99% for 2 years then on our follow-on rate of a 1.74% discount off our standard variable rate (currently 8.29%) giving a rate of 6.55% variable for the remaining 25 years would require 23 monthly payments of £687.80 and 300 monthly payments of £724.75; plus one initial interest payment of £560.63.
The total amount payable would be £234,305.03 made up of the loan amount, plus interest and fee(s) totalling £124,105.03. This includes Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£125).
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Contact us about your case
Call our Broker Support Team 
Email our Broker Support Team
brokers@mansfieldbs.co.uk
Definitions
1. Initial Rate
The Initial Rate is the rate available during the initial term of the mortgage. Once the initial rate term has expired, the mortgage will either revert to our Standard Variable Rate (SVR), or a follow-on rate that is a discount off our SVR. Our SVR is set by us and is currently 8.49%, as a variable rate it may go up or down. Our follow-on rate is 1.74% below our SVR (currently 6.75% variable) and will go up or down with changes to our SVR.2. Overall Cost for Comparison
The Overall Cost for Comparison is given as the Annual Percentage Rate of Charge (APRC) and includes all charges incurred relating to the mortgage. The APRC is intended to help you as a borrower compare the interest rates on different products.3. Max LTV
Like all other mortgage lenders, we will allow you to borrow against a proportion of the overall property value. This is known as Loan to Value (LTV) and is expressed as a percentage. For example, if you want to purchase a property at £100,000 and you would like to borrow £85,000, then you will need a mortgage available at 85% Loan to Value (LTV). The available LTV can vary depending upon the type of mortgage. Shared Ownership mortgages will offer two percentages under LTV - the proportion of the property value and the proportion of the share being purchased.Your home may be repossessed if you do not keep up repayments on your mortgage
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