Shared Ownership is an affordable home ownership scheme which makes it easier for eligible buyers to get on the property ladder.

Your clients, if eligible for the scheme, would buy a share of a home (between 25% and 75%), meaning they require a smaller deposit and mortgage, and pay rent on the share they don't own. In time, the buyer may have the option to purchase additional shares, up to full ownership. This is known as staircasing.

Available for both purchases and remortgages, if you have a client looking for a more affordable way to purchase a property then shared ownership could be an ideal solution, if they are eligible for the scheme.

Top tip – when submitting Shared Ownership applications please be sure to specify the loan type as Shared Ownership and not as a Standard Purchase to ensure your application is progressed as quickly as possible.

Why choose Skipton?

We pride ourself on our human touch approach. Our underwriting decisions are made by people, not computers and we offer a dedicated support and underwriting team- with direct access to them when needed.

We also offer:

  • Up to 95% LTV on Shared Ownership remortgages and additional borrowing
  • Remortgages up to 95% LTV for houses and 90% LTV for flats where the customer is staircasing to 100% home ownership
  • Lending of up to 90% LTV if there are incentives on new build Shared Ownerships houses and flats <=5%
  • Minimum of £5,000 additional borrowing for Shared Ownership, where there is an element of staircasing
  • An increased procuration fee of 0.45% for all new Shared Ownership business, as we recognise the extra work required when submitting these applications

Key Policy

  • No charge for a standard valuation for mortgage purposes where the property is worth less than £1.5 million which is instructed on day one.
  • Accept 100% of maintenance received and tax benefits as income.
  • Accept up to 20% site exposure in any development.
  • Shared Ownership remortgage products available, including free standard legal fees, or other products available with cashback following completion.
  • Staircasing up to 100% ownership must be permitted.
  • Available across the whole of England only.
  • Priority underwriting for New Build purchases.
  • Housing Association consent required.
  • Max term 40 years

Full details of the policy can be found in our Policy Document.

View our Product Range

Key Information

What are the packaging requirements for Shared Ownership?

Packaging requirements are as normal - except for the addition of Memorandum of sale.

Can I use the affordability calculator for Shared Ownership?

Yes you can, it will be based on your client's share of the property and you will need to input the rent payable on the unowned share as an outgoing expense.

Can I apply for a Shared Ownership Mortgage for my client on eMortgages?

Yes, we've made changes to our systems to allow you to do so. Simply select Shared Ownership from the 'loan type' drop down box.

Is Shared Ownership only available on New Build properties?

No - although most Shared Ownership mortgages do tend to be for New Build properties, some are available on the second hand market.

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