All Shared Ownership customers can access our standard new business range
Key information
- The maximum LTV for standard Shared Ownership applications is 90%.
- Shared Ownership is only available where the share being purchased is between 25% and 75% of the property’s value (50% and 75% for Northern Ireland).
- Shared Ownership rent must be included as a non-regular expenditure item in our affordability calculator to help us give a more accurate indication of how much your client could borrow.
What else do I need to know?
We’ll consider Shared Ownership applications up to 90% LTV for new build houses and new build flats. Builders/Registered providers may offer sales incentives to prospective buyers to encourage them to purchase their properties. Please visit the acceptable incentives section on our new build page for further information.
- We only accept scheme providers registered with:
- Homes & Communities Agency (in England) known as Homes England;
- Welsh Assembly;
- Scottish Housing Regulator;
- Northern Ireland Housing Executive (NIHE); or
- Northern Ireland Co-Ownership Housing Association (NICHA).
- Additional loans for other purposes, e.g. home improvement or personal expenditure, will not be available until 100% of the property is owned.
| Minimum acceptable initial percentage ownership | |
|---|---|
| England, Scotland and Wales | 25% |
| Northern Ireland | 50% |
- Cannot be combined with any other form of housing scheme.
- Must be able to staircase (i.e. purchase further shares) to 100% ownership.
- Within a Shared Ownership lease/agreement:
- a minimum staircasing tranche condition may be applied. If this condition is part of your client's lease/agreement, this minimum tranche must not be greater than 25%
- there must be no minimum for final staircasing.
Your client can buy additional shares at current market value until they own 100% of the property and this is known as 'staircasing'.
- Until the property is owned 100% by the borrower, additional lending is only available for staircasing.*
- We allow up to 90% LTV for applicants remortgaging to purchase an additional share.
- We allow up to 90% LTV for applicants remortgaging to purchase the final share.
*We allow additional lending to buy out an existing joint borrower’s interest in the property.