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Shared ownership – An Affordable Way Of Home Buying

Shared ownership is among the most sought after methods of home buying. It is a considerable government help to support the people with lower income, buy their dream home. On the other hand, it is a reality, besides shared ownership, several other schemes are available that invite attention of the homebuyers. Few examples are help-to-buy, right-to-buy etc. In such conditions, a natural inclination towards the desire of knowing the pros and cons of this housing plan because other choices are there.


  • You can own a house without taking a huge financial burden of a mortgage.
  • Apply despite poor credit through shared ownership with bad credit.
  • Properties are available on the multiple locations.
  • Easy eligibility criteria with certain demand on employment status
  • Properties are available at a lower price than those in the open market.
  • Easy to prove affordability for a mortgage as you buy only a share of the property.
  • Deposit money is small and thus can be arranged easily.
  • Buy a bigger share gradually through staircasing without adding much burden on repaying capacity.


  • Shared ownership is also called as leasehold ownership.
  • The minimum and maximum lease in shared ownership is a minimum of 99 years and a maximum of 125 years.
  • The minimum share you can buy through shared ownership is 25%.


  • Mostly the leasehold properties and cannot be forwarded as a legacy.
  • To own a shared ownership property 100% with freehold tag, the permission of housing association is necessary.
  • Not every lender offers shared ownership mortgage, which restricts the number of available options.
  • You need to pay 100% ground rent, which takes a considerable amount of money from your income.
  • You pay stamp duty for the whole property if the share exceeds or equals 80%.
  • Large-scale home improvements are not allowed because the housing association is the co-owner.
  • It is not a good idea for property investors as they cannot sell the house further

Post Corona Scenario – Is Shared Ownership Good Or Bad?

Now everything has two versions, one is before corona, and another is post corona. The whole world has changed a lot, and the mortgage industry as well as the property industry, has completely changed the way they work. The new arrangements have some factors to show whether the shared ownership now is a good or bad idea.

Shared Ownership Good Or Bad
Why Good Why Bad
A drastic drop in property price after corona has made the shared ownership home buying even more affordable. Already there are a few numbers of shared ownership mortgages. After the corona, the number of options has considerably reduced.
Most of the new housing association schemes are expected to come with shared ownership rights for the tenants living in the property. Nowadays less number of homes is available for sale because the government is affected by the prevalent loss.
No increase in the deposit amount despite covid-19 chaos. It is still 5% to 10%. Developers are not interested currently in making new homes, as they ultimately have to end with a loss.

How Shine Mortgages helps avail the maximum benefits of shared ownership?

Shine Mortgages supports you with its online broker services and deliver support at every related aspect. We help you explore the maximum benefits of the shared ownership mortgages conveniently despite post corona period.

  • Get several choices of the lenders despite a restricted number of options. The conditions after pandemic are difficult but still we manage to bring out some solution for your property purchase needs. The renowned lenders of the industry are in our contact, and we organize them on our panel to offer a choice to the borrowers.
  • Free advice and support on the overall mortgage process with special consideration to the changes that have come after covid-19. We handle the application process, and documentation also supports income assessment. We are always there to justify your income source because we know nowadays it is a difficult task.
  • Bargain on interest rates from the lenders for our customers is another thing that we offer. With every possible logic, we make sure that you get an affordable deal with the best rates and repayments plans.

Let us know your requirement on the shared ownership mortgages, and we are sure to find a solution. It is our commitment as well as determination, and that is not going to change at any cost. After all, what should a mortgage broker keep as the aim other than the well-being of its customers?