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Tool

Shared ownership calculator

Work out the monthly cost of buying a share of a home and renting the rest, and the cost of buying more later.

With shared ownership you buy a share of a home, commonly 10% to 75%, take a mortgage for that share, and pay rent on the rest. It can make getting on the ladder cheaper, but the monthly cost has three parts.

This calculator adds them together: your mortgage payment, the rent on the share you don't own, and the service charge. It also shows what buying another 10% later would cost at today's value.

Estimated monthly cost

£1,010

Price of your 40% share£120,000
Deposit you need£12,000
Mortgage on your share£108,000
Mortgage payment£547
Rent on the rest£413
Service charge£50
Buying a further 10% later, at today's value£30,000

Shared ownership lets you buy a share, usually 10% to 75%, and pay rent on the rest. Rents commonly start around 2.75% of the unowned share a year and then rise, and homes are usually leasehold. Check each scheme's terms; they differ.

Want the background? Read our guide: First-time buyer schemes.

How this calculator works

  1. Your share of the full price is what you need a mortgage and deposit for, not the whole price.
  2. Rent is charged on the share you don't own, as a percentage of its value each year, and divided into months.
  3. The total adds your mortgage, rent and service charge, so you can compare it with buying outright or renting.

What it assumes

  • Rents commonly start around 2.75% of the unowned share a year and then rise each year.
  • Shared ownership homes are usually leasehold, with a service charge. Enter the one quoted for your home.
  • Rules and costs differ between providers and schemes, so check the terms of the home you're considering.

General information, not financial advice. Speak to a mortgage adviser about your own situation.

Shared ownership calculator: common questions

Short answers to the things people ask most.

How much deposit do I need?

A deposit on your share, often 5% to 10% of its value, not of the whole price. That's a much smaller sum than for a full purchase.

What is staircasing?

Buying extra shares of the home over time. As you buy more of it, your rent falls, until you own it outright. Each purchase is priced at the home's value at the time.

Can I sell a shared ownership home?

Yes. The housing association usually has first rights to find a buyer, and you receive your share of the sale price. Check the details in your lease.

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