A Shared Ownership Mortgage allows buyers to purchase a share of a property while paying rent on the remaining portion. It is designed to help people who cannot afford to buy a home outright but still want to take their first step onto the property ladder.
Shared ownership schemes are often offered through housing associations and can provide a more affordable route into home ownership with a smaller deposit and lower initial mortgage.
Shared ownership allows you to buy a percentage of a property, usually between 25% and 75%, while paying rent on the remaining share owned by the housing association.
Over time, many schemes allow you to increase your ownership by purchasing additional shares in the property. This process is known as staircasing and can eventually lead to full ownership in some cases.
This structure means your mortgage is based only on the share you are buying, rather than the full value of the property.
Shared ownership is particularly attractive for buyers who struggle to save a large deposit or meet affordability requirements for a traditional mortgage.
Benefits can include:
Lower deposit requirements
Smaller mortgage compared to buying outright
Access to properties that may otherwise be unaffordable
The ability to increase ownership over time
Opportunity to build equity in a property
For many first time buyers, it provides a practical route into home ownership.
EHF Mortgages understands the specific requirements of shared ownership mortgages and works with lenders who support these schemes. We guide buyers through the process and help ensure the mortgage fits both the property structure and the housing association rules.
We help you:
Understand shared ownership eligibility
Find lenders who accept shared ownership applications
Secure competitive mortgage rates
Navigate housing association requirements
Plan for future staircasing opportunities
If you are considering shared ownership in Chelmsford or elsewhere in Essex, EHF Mortgages can help you secure the right mortgage and move forward with confidence.
We make the process of obtaining a mortgage as easy as possible.
Let’s understand your plan, assess your finances and ensure that you can afford the mortgage you need. We will assess what you can afford.
We obtain the agreement from the right mortgage lender, giving you the confidence to view, offer and agree to buy the right property.
Let us support you through this most important stage, checking the property is accepted and your finances are good to go, moving you to Offer stage.
Solicitors finalise the legal work, request money from the mortgage lender, complete the purchase and you have the keys to your new home.
There are plenty of reasons to work with EHF Mortgages
By having independent access to the UK Mortgage market, we are able to provide you with the widest choice of products and will always have the most competitive deals.
We always offer a free no-obligation meeting, so we can understand your situation, your goals and show you how we can help.
We don't just stop with your mortgage, we like to keep you informed about the changes within the market and how this affects your future mortgage needs.
Now is a great time to start your mortgage journey with EHF Mortgages.
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