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Shared ownership customers

Buy a share of a home and pay rent on the rest.

Same day enquiry

We’re here between 9am and 8pm Monday to Thursday, 9am to 7pm on Friday. If you contact us by 5pm we guarantee to get back to you the same day. If it’s after 5pm, we can’t promise we’ll be able to reply on the same day, but we’ll do our very best.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

Can’t afford a mortgage on 100% of a property? Have a less than perfect or no credit history?

We think looking at your individual situation, combined with our common-sense approach to lending, makes better sense for everyone.

We could help you share the load 

Buying a share of a home and paying rent on the rest could be a great first step to owning a house outright later on. We’ve helped many people take that first step, even with less than perfect credit histories. That’s because we consider all your individual circumstances, not just your credit profile. So if you’ve had previous problems, you could still qualify for a shared ownership mortgage from us.

We’ll consider shared ownership mortgages for:
  • ex-council houses, flats and maisonettes
  • high-rise properties (yes, even ones above 6 floors)
  • properties with poor valuations (when the property is in a less than perfect condition)
  • non-standard construction (when the property you want is a little out of the ordinary)
  • ... as well as the more usual brick built houses, flats and maisonettes
Key features
  • Mortgages up to £250,000 – up to 100% of your share
  • Up to 75% LTV (loan to value)
  • CCJs and Defaults accepted
  • Variable rates from 5.99%
  • Fixed rates from 3.59%
  • Interest-only repayment options available
With added value

To help make things affordable and easier to plan, we offer a 5-year fixed-rate product. Alternatively, we also offer an interest-only option. Plus, we don't hit you with early repayment charges if you want to pay off your mortgage early. And that’s even on fixed-rate mortgages. Remember, you'll have rental payments as well as monthly mortgage repayments to maintain.

 

Overall cost for comparison

For example: A mortgage of £85,000 payable over 30 years on our variable rate for the loan term of 30 years at our current rate of 5.99% (variable) would require 360 monthly payments of £534.53 plus a redemption administration fee of £150.00.

The total amount payable would be £192,579.06 made up of the loan amount plus interest on the loan (£98,265.77), processing fee (£2,125.00) and arrangement fee (£2,125.00) plus interest on these fees (£4,913.29) and the redemption administration fee (£150.00).

The overall cost for comparison is 6.6% APRC representative. 

The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.

Getting your shared ownership mortgage in 8 easy steps

When you apply for a mortgage with us, one of our qualified mortgage advisers will guide you through each step of the process:

  1. We’ll make sure we understand your circumstances fully before recommending a suitable mortgage. If you’re happy, you’ll receive a ‘mortgage illustration’ providing all the relevant details about the product you’re applying for.
  2. Our mortgage advisers will take you through the full application process. We’ll tell you exactly what you need to do, and when, including sending us supporting documentation. For example, proof of income in the form of wage slips or your accounts and memorandum of sale.
  3. When we have everything we need, we’ll assess your application and supporting information.
  4. Then a surveyor will visit the property to ensure it’s mortgage-worthy.
  5. If it is, we’ll make you a conditional mortgage offer, initially, and then a binding offer, which means we’ve accepted your mortgage application.
  6. Our advisers will tell you what’s happening at each stage and, importantly, you’ll have their contact details if you want to get in touch.
  7. Your conveyancer or solicitor will start to discuss exchanging contracts with the sellers and agree a date to complete the sale. This is a good time to take out buildings insurance.
  8. Completion is the date you’ll officially own your new home. We’ll transfer the mortgage funds to seller’s solicitor. Then you’ll receive the keys and you can move in! 
Our lending criteria
  • Max LTV based on property value – 75%
  • Maximum LTV based on buyer’s share – 100%
  • Maximum Loan – £250,000
  • Variable rate terms – 3 to 30 years
  • Fixed rate terms – 2 and 5 years
  • Maximum age – 80 at end of term
  • CCJs and Defaults accepted (even in the last 12 months)
  • Income types – employed, self-employed, temporary/zero-hour contracts, DWP benefits, pension
  • All property types considered – must be >40% residential use
  • Mortgagee Protection Clause (MPC) in Together’s favour required on all mortgages, or subject to underwriter approval. With no MPC, the maximum LTV is 60%
  • Rent reference required in all cases. Rent arrears accepted subject to underwriter approval
  • Remortgages – subject to underwriter approval
  • Mortgages are subject to all approval conditions of the Housing Association.
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Build: 1.3.7.16451