Low Deposit Mortgages

Mortgages available up to 95% share, 75% loan to value.

Choice of Products

Choose from 2, 3 and 5 year terms.

ERC Free Options

Products available without an early repayment charge (ERC).

We have 5 products available

Shared ownership mortgages allow you to buy a share of the property and pay rent on the remaining portion, usually to a housing association, when property is not affordable to purchase outright. Should affordability allow, individuals can gradually increase towards full ownership over time, a process known as staircasing.

Our shared ownership mortgages are available 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.

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Shared Ownership 2 Year Discount – SO-016

Term 2 years
Initial Rate1 Currently 3.65%
Overall Cost For Comparison2 5.6% APRC
MAX LTV3 95% of the share being purchased, 75% property value
Early Repayment Charge NIL
Product Fees £199 application fee

A mortgage of £101,150.00 payable over 30 years initially on a variable rate, currently 3.65% for 2 years and then on our current standard variable rate of 5.75% for the remaining 28 years would require 23 monthly payments of £463.43 and 336 monthly payments of £584.16; plus one initial interest payment of £303.45.

The total amount payable would be £207,964.10 made up of the loan amount, plus interest and fee(s) totalling £106,814.10. This includes Application Fee (£199), Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.6% APRC representative.

Shared Ownership 2 Year Fixed Rate – SX-015

Term 2 years
Initial Rate1 3.89%
Overall Cost For Comparison2 5.6% APRC
MAX LTV3 95% of the share being purchased, 75% property value
Early Repayment Charge 2%
Product Fees £199 application fee

A mortgage of £83,949.00 payable over 30 years initially on a fixed rate of 3.89% for 2 years and then on our current standard variable rate of 5.75% for the remaining 28 years would require 23 monthly payments of £396.06 and 336 monthly payments of £485.55, plus one initial interest payment of £268.41.

The total amount payable would be £173,246.59 made up of the loan amount, plus interest and fee(s) totalling £89,297.59. This includes Application Fee (£199), Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.6% APRC representative.

Shared Ownership 5 Year Fixed Rate – SX-016

Term 5 years
Initial Rate1 4.49%
Overall Cost For Comparison2 5.5% APRC
MAX LTV3 95% of the share being purchased, 75% property value
Early Repayment Charge 3%
Product Fees £199 application fee

A mortgage of £59,351.00 payable over 30 years initially on a fixed rate of 4.49% for 5 years and then on our current standard variable rate of 5.75% for the remaining 25 years would require 59 monthly payments of £300.77 and 300 monthly payments of £340.83, plus one initial interest payment of £219.03.

The total amount payable would be £120,937.46 made up of the loan amount, plus interest and fee(s) totalling £61,586.46. This includes Application Fee (£199), Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.5% APRC representative.

Shared Ownership 3 Year Fixed Rate – SX-014

Term 3 years
Initial Rate1 4.19%
Overall Cost For Comparison2 5.6% APRC
MAX LTV3 95% of the share being purchased, 75% property value
Early Repayment Charge 3%
Product Fees £199 application fee

A mortgage of £106,400.00 payable over 35 years initially on a fixed rate of 4.19% for 3 years and then on our current standard variable rate of 5.75% for the remaining 32 years would require 35 monthly payments of £483.82 and 384 monthly payments of £584.99; plus one initial interest payment of £36.77.

The total amount payable would be £242,330.63 made up of the loan amount, plus interest and fee(s) totalling £135,930.63. This includes Application Fee (£199), Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.6% APRC representative.

Shared Ownership 2 Year Discounted Rate – SO-017

Term 2 years
Initial Rate1 Currently 3.55%
Overall Cost For Comparison2 5.6% APRC
MAX LTV3 95% of the share being purchased, 75% property value
Early Repayment Charge None
Product Fees £199 application fee

A mortgage of £52,368.00 payable over 30 years initially on a variable rate, currently 3.55% for 2 years and then on our current standard variable rate of 5.75% for the remaining 28 years would require 23 monthly payments of £236.99 and 336 monthly payments of £303.14; plus one initial interest payment of £15.33.

The total amount payable would be £108,045.14 made up of the loan amount, plus interest and fee(s) totalling £55,677.14. This includes Application Fee (£199), Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.6% APRC representative.

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 revert to our Standard Variable Rate (SVR). Our SVR is set by us and is currently 5.75%, as a variable rate it may go up or down.

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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