Deposit for Shared Ownership How much do I need?

Buying a share means you need a smaller mortgage and therefore the deposit required will most likely be significantly lower than if you were purchasing the property outright because you only need a deposit on the share you are buying. This makes it a much more cost effective way to own your own home – ideal for first time buyers.

The exact deposit figure depends on several factors: 

  • The full market value of the property
  • The size of the share you are purchasing
  • Your mortgage lender
  • Your credit rating

You should expect to have at least 5% deposit saved.

For example: A 25% share of a property with a full market value of £400,000 is £100,000. A 5% deposit of the share price (£100,000) is £5,000. ​​

Your mortgage advisor will be able to tell you the exact amount of deposit you need. You can contact one of our panel of mortgage brokers to obtain a Mortgage in Principle.


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