Cashback Remortgages · First-time buyers
Budgeting for a Shared Ownership Home
A shared-ownership home has a combined monthly cost: the mortgage on your share plus rent and charges on the rest. Budget for all of it, not just the mortgage.
The full monthly picture
Add the mortgage payment on your share to the rent on the remaining share and any service charge or ground rent. Together these can be more than a same-priced full-ownership home in some cases.
Factor in that rent and charges can rise over time.
Plan ahead
Consider whether you intend to staircase and how the costs and resale rules work. Confirm the figures with the housing provider before committing.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.