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Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
27.10.2025
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
27.10.2025
Are you finding is difficult to get on the property ladder?
It could be that your wages are not high enough to enable you to get a mortgage large enough to buy a property, or like many people, the high costs of renting means that you just don’t have any spare cash to put away for a large deposit required. There is an answer to this dilemma! Shared ownership mortgages.
This is where you own part of the house and rent the other part (usually from a housing association). Typically shared ownership deals can start at 25%, 50% or 75% of the property value. As part of the shared ownership deal, you may have the option to buy further shares in the property as time goes on if it becomes affordable.
NOTE: There is criteria to qualify for a shared ownership property; however they are no longer restricted to “key workers” as previous schemes where.
To find out more please contact Ascot Mortgages, we are experienced mortgage brokers who are experts in arranging shared ownership mortgages.
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- Free initial financial advice
- Simple, fast, hassle-free service
- We will search across the market for you
Why people choose to buy using shared ownership
Given the recent economic difficulties, and as mortgages have become more difficult to obtain, the housing market has slowed down. As a result of this developers have found that their new houses have been more difficult to sell and so the opportunity to buy through shared ownership has become increasingly popular. Shared ownership is where you buy a percentage of the home, so for instance twenty five per cent and the housing association, who has bought the home from the developer, owns the remaining seventy five per cent.
These properties are usually on a leasehold of 99 years. Chunks of the property are usually sold in twenty five per cent increments, although ‘stair casing’ allows you to buy outside of these increments if you require. Therefore you live in the property and pay a mortgage on the twenty five per cent, and rent on the seventy five per cent that the housing association owns. There are different types of schemes available, some are for social housing tenants and others can be for key workers, such as nurses and teachers and is generally available to you if your household income is less than £60,000 a year, although this can be higher in London. You can sell at any time but usually the housing association can buy the share that you have bought back, or find a buyer for it.
Deposits required for shared ownership mortgages
You would still need a deposit on this option, usually about ten per cent of the amount of the property that you are mortgaging, and of course more is always welcome! Shared ownership is a great opportunity because it means that you typically need a lower deposit to start, but repay monthly as you would with a mortgage. For example, say you bought fifty percent of a house worth £100,000, you would only need a £5000 deposit, as opposed to the £10,000 that you would usually require, which makes shared ownership for a first time buyer much more feasible especially for first time buyers who have struggled to save for a deposit alongside paying inflated rental prices. You should be entitled to the same range of mortgage products as customers who are buying one hundred per cent of their home.
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Arranging a mortgage for a shared ownership property
Despite the benefit of having a shared ownership property, this arrangement does have the potential to become complicated when you get to the stage of arranging a mortgage. Some lenders can be wary because of the shared ownership element and if you approach multiple lenders and are refused then you could find that your credit history could be tainted. For that reason we recommend that you use an experienced mortgage broker like Ascot Mortgages to arrange your mortgage, because we are market leaders who can place your mortgage application with the right lender, in this case one who is happy to arrange your mortgage on a shared ownership basis. The reason that we can do this is because we are market leaders whose experience and reputation means that we can use our knowledge to work with a range of lenders and find the best deal for you. This means that you do not need to spend time contacting different lenders to find out if they will accept a mortgage on a shared ownership property, and of course you do not need to go through multiple, potentially damaging, credit checks.
Here at Ascot Mortgages we offer an initial no-obligation consultation, free of charge, and so it is well worth speaking to us to see if we can help you arrange your shared mortgage saving you time, money and hassle!
The overall cost for comparison is 5.89% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
Alison Gibson
Ascot Mortgage Expert
Remortgage
Remortgaging is applied when you keep
living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.
Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.
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FAQ
The loan to value (LTV) rate determines how much you can borrow. A lower LTV typically results in better interest rates and more choice of lenders for remortgaging, as it represents lower risk to lenders.
Yes, you can choose to remortgage with a different lender. However, this should be based on factors such as interest rates, fees, and the terms and conditions of the potential new mortgage. Contact us today and we can help you to find the best option to suit your needs.
Most lenders will require a valuation of your property when you remortgage to ascertain its current market value. Some lenders may use an automated valuation model instead of a physical appraisal. Need help navigating this? Reach us today to discuss your mortgage needs.
Yes, when remortgaging a solicitor is required for both the mortgage lender and the applicant. Some mortgage lenders offer mortgage products that have a free legal facility. They handle the legal paperwork and advise on potential issues.
The amount you can borrow with a remortgage depends on multiple factors including your income, outgoings, credit score, the value of your property, and the lender’s criteria. Easy contact us to discuss your remortgage borrowing capacity.
The remortgaging process typically takes between 4 to 8 weeks, but can be quicker or slower depending on your circumstances and the lender’s processes. For help in understanding what you can expect, contact us today!
To improve your chances of being accepted for a remortgage, maintain a good credit history, ensure your income is stable, and reduce your overall debt. It can also help to have a clear purpose for remortgaging. Need advice? Reach us today.
It is possible to remortgage with bad credit, but options may be limited and interest rates may be higher. Some specialist lenders provide services for people with poor credit histories.
Applying for a remortgage will likely require a credit check, which can leave a footprint on your credit file. However, the impact on your credit score is usually minimal and temporary.
If your remortgage application is rejected, seek to understand why. It could be related to your income, property value, or credit score. You may need to consider alternative lenders or improve your financial situation. Contact us today for a free consultation and guidance on your options.
Yes, self-employed individuals can remortgage. However, you’ll need to provide more evidence of your income, usually in the form of HMRC documents for the last two or three years. If you’re self-employed and considering remortgaging, feel free to reach out to us whenever you’re ready to discuss this further.
Seeking advice on remortgaging can be beneficial to understand the costs, benefits, and potential risks. Professional mortgage advisors can guide you to make the best decision based on your circumstances. Need professional advice? Easy reach us and we always here to help!
Yes, there are fees involved in remortgaging. These can include exit fees from your current lender, arrangement fees for your new mortgage, valuation fees, legal fees, and broker fees. It’s important to factor these in when considering a remortgage.
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Legal
Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. Typically; we will receive commission that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
ICO Registration number is Z1842187
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON ITtypically; we will receive commission
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