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Shared Ownership Affordability Calculator

Our interactive mortgage calculator will help show you the costs involved when buying a home with Shared Ownership, so that you can better understand your affordability.

Your Property

£ 500
10% / £ 325000
5% 80%
25 years
5 yrs 50 yrs
20% / £ 150000
25% 75%

Your estimated costs
(service charge not included)

Household income
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The estimated minimum household income required


Monthly mortgage
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The estimated monthly mortgage payments on the share you’re purchasing


Monthly rent
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The estimated monthly rent on the share that you do not own


Total monthly costs
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The total estimated monthly costs of the mortgage and rent payments


The monthly costs (ex service charge) are as follows. They are calculated from mortgage repayments and rent. Please note, this is excluding service charges which vary by property and scheme. Calculations do not include service charges. Service charges will have to be paid and thus part of the calculation that ascertains your affordability. Please contact a member of the team for more information.

How to use the mortgage calculator

To help get the most out of the affordability calculator, it’s useful to have an idea of the information below.

  1. The full market value of the property you’re looking to buy
  2. The share of the property you’re considering purchasing
  3. The deposit percentage you wish to put towards the share of the property

Using this information, the calculator will automatically adjust the other elements involved to help provide an estimation of the total monthly costs you’d be likely to pay for the property you’re considering.

Please note that the figures shown are solely to provide an indication of the costs involved, and the minimum share and deposit percentage you can purchase vary per development. For a more accurate breakdown, please get in touch with one of our sales consultants.

Behind the numbers

The mortgage term can be adjusted to your preference on the affordability calculator. The interest rate of the estimated mortgage payments is calculated at 5.75%.

Typically, your annual rent is charged at 2.75% of the portion of the property which you don’t own. For example, if you purchased a 25% share of your property, your monthly rent would be 2.75% of the remaining 75% share.

The monthly service charge varies depending on the development, the number of bedrooms in the property and other factors. These costs are not included in the calculations above, so please get in touch with one of our sales consultants for a full breakdown.

This figure provides an estimation of the minimum household income required to purchase the share of the property which you’re considering.


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Affordability FAQs

What deposit do I need for Shared Ownership?

Buying a Shared Ownership property means that you’ll need a different type of mortgage, and typically you can look to pay from 5% upwards on your deposit. Your deposit will be on your share of the property, not the full market value, which can help make it more affordable to get on the property ladder.

For example, if the property’s full market value is £300,000 and you purchase a 25% share of this at £75,000, then the 5% deposit required would be £3,750.

How does the share of the property impact affordability for Shared Ownership?

The larger the share of the property you purchase will mean that your deposit will need to be higher too (as you will need a minimum of 5% of the share value).  In the market at present, mortgage interest rates are higher than the rent costs, so if you were purchasing with a mortgage, you would need more household income to buy a larger share, and pay less rent on the smaller share than if you purchased a lower share with a mortgage and paid more rent on the unowned share. 

What is the Shared Ownership mortgage term?

The length of the mortgage term can be adjusted on our affordability calculator and the interest rate has been calculated at 6%. The length of your mortgage term, along with the other variables on the calculator, will affect the cost of your monthly payments. It’s down to your mortgage lender to scrutinise the loan-to-value (LTV), which can also affect repayments within your term.

What are the interest rates on a Shared Ownership mortgage?

The interest rate on your Shared Ownership mortgage will depend on your mortgage lender.  As with most mortgages, customers often apply for an interest rate for an initial term, ie. 5 year fixed or 2 year variable.  After those terms expire you can renegotiate a new rate based on mortgage product availability at the time, or return to the ‘standard variable rate’ that would be applicable at the time.  

What household income do I need to buy a Shared Ownership property?

The estimated income you’ll need will change depending on the share of the property you purchase, the deposit required, and other factors including your outgoings and commitments.

However with Shared Ownership, your household income cannot exceed £80,000 per annum if you’re purchasing a property outside of London, or £90,000 per annum if you’re purchasing a property in London.

Household income can be comprised of one or more incomes of the buyers of the home, it is not necessarily a single income of one individual. 

How much are Shared Ownership monthly repayments?

Your Shared Ownership monthly repayments are made up of the mortgage payments on the share of the property that you own, rental payments on the share of the property which you do not own, and the service / estate charges and management fees which the property has.

The variables which determine your repayments are:

  • The property’s full market value
  • The share of the property you purchase
  • The deposit amount
  • The length of the mortgage term
  • The interest rate on the mortgage
  • The additional service / estate charges and management fees

Further Reading

Feel like you understand the basics? Our guides and resources below will extend your knowledge of affordable housing with articles written and reviewed by our experts.