More people can buy than
they realise.
Shared Ownership is a government scheme that lets you buy a share of a property – typically between 10% and 75% – and pay subsidised rent on the portion you do not own.
You take out a mortgage on your share rather than the full purchase price, which makes it significantly more accessible than buying outright.
Who it's for
Shared ownership is open to first-time buyers, and to people who have owned before but can no longer afford to buy outright.
Outside of London, the household income limit is £80,000. Properties are either newly built or available through housing association resale programmes, and are always held on a leasehold basis.
The costs to understand
Your monthly outgoings will include a mortgage payment on your share, rent on the remaining portion, and service charges. Shared Ownership properties are always leasehold, so this is a cost to factor in from the start. We will go through all of this with you clearly before you commit to anything.
For buyers aged 55 and over
If you are aged 55 or over, the Older People’s Shared Ownership scheme works in a similar way to standard shared ownership, with one key difference. You can buy up to 75% of the property, and once you reach that level, you stop paying rent on the remaining share.
If you are buying with a partner who is under 55, they can still be included on the purchase – so age difference does not have to be a barrier.
It’s a route that can give buyers the security of ownership without needing to purchase at full market value. If this sounds like it could work for your situation, give us a call and we will talk it through with you.
Staircasing
Over time, you can buy larger shares of your home through a process called staircasing. Each time you staircase, your rent reduces. If your property was built after April 2021, you can staircase in increments as small as 1% per year for the first 15 years, making it more flexible than ever to build up your ownership gradually. Many people eventually own their property outright this way, though there is no obligation to do so.
For properties built after April 2021, buyers can staircase in 1% increments each year for the first 15 years. The current section is accurate but missing this detail, which is genuinely useful for buyers thinking about their long-term options.
What IMS does
We advise on the mortgage for your share, making sure you get the right product from the right lender. Shared Ownership mortgages are a specialist area and not every lender offers them. We know who does, how to structure the application, and how to make the process as straightforward as possible from start to finish.
Book a telephone appointment
We are looking forward to discussing your mortgage options. To make the most of our appointment, please have the following information to hand:
- Your income details
- Any outstanding debts (including monthly payments and outstanding balances)
This initial mortgage consultation is free of charge, and allows us to gather the information we need about your circumstances and mortgage requirements.
Once we have reviewed your details and supporting documentation, we will arrange the next stage of the process with one of our mortgage advisers, who will research the market and provide personalised mortgage recommendations. Should you decide to proceed with an application, our broker fees are typically:
- £699 – First Time Buyers, Home Movers and Remortgages
- £995 – Buy-to-Let, Semi-Commercial and Commercial Mortgages
We will call you at your scheduled appointment time from the following number:
0208 0044 274
People before property
See for yourself by checking out our reviews on Google and Trustpilot
“We had an amazing experience with Michelle as our mortgage advisor. She was incredibly helpful, friendly and professional throughout the whole process. She always replied very quickly, even outside normal working hours, and was always happy to answer any questions we had. Thanks to Michelle, the whole mortgage process was quick, easy and completely stress-free. We really appreciate all her help and support and would highly recommend her to anyone looking for a mortgage advisor. Thank you so much, Michelle! ❤️”
“Very helpful, supportive and efficient team – our experience with them has been great so far, highly recommend!”
“Very simple process to renew a mortgage – Michell did identify some new providers; however, in the end, staying with the current provider proved most appropriate and even updated arrangement with cheaper interest rates in the immediate days preceding the expiry date – all very simple and straightforward – would recommend”
“My partner and I were first time buyers and the thorough and timely support of Michelle and her team made the process of securing our mortgage quick and stress-free.”
“Really good communication and speed of response. This was our first time buying so Michelle really helped us through the process.”
Sort your mortgage at the same time
We work closely with our in-house mortgage team so that finance, protection, and your property search all happen under one roof – without the usual stress of coordinating different parties. We recommend getting an agreement in principle before you start viewing.
Our mortgage services
Whether you're buying for the first time or remortgaging, our advisors work across the whole market to find the right deal for you.
- First-time buyer mortgages
- Home mover mortgages
- Remortgaging
- Buy-to-let mortgages
- Shared ownership schemes
- Protection and life insurance