Calculate the combined cost of mortgage payments and rent on the unowned share for a shared ownership property purchase.
The full value of the property, as if buying it outright
The percentage of the property you'll own
Deposit as a percentage of your share's value
Interest rate on the mortgage for your share
Annual rent charged on the share you don't own, typically around 2.75%
Total monthly cost
£1,172.77
Mortgage payment plus rent on the unowned share
This result is an estimate only and does not constitute financial advice.
Deposit needed
£15,000
This result is an estimate only and does not constitute financial advice.
Monthly mortgage payment
£829.02
On your share, repayment basis
This result is an estimate only and does not constitute financial advice.
Monthly rent
£343.75
On the share you don't own
This result is an estimate only and does not constitute financial advice.
Shared ownership lets you buy a share of a property, typically between 10% and 75%, and take out a mortgage on that share. You pay rent to a housing association on the remaining share you don't own, so your monthly cost is a combination of your mortgage payment and that rent.
Rent on the unowned share is usually charged at around 2.75% of its value per year, though this varies by provider and typically rises each year in line with inflation. The bigger the share you buy, the smaller the unowned share and the less rent you pay, but the larger your mortgage and deposit will need to be.
This calculator gives you the combined monthly cost based on the figures you enter. In practice, most shared ownership properties are leasehold flats, so you should also budget for a monthly service charge on top of this, which this calculator doesn't include.
No — this calculator covers your mortgage payment and rent on the unowned share only. Most shared ownership properties are leasehold flats with an additional monthly service charge for buildings insurance, maintenance and communal areas, which you'll need to budget for separately.
Rent is charged as a percentage of the value of the share you don't own, so the smaller that unowned share is, the less rent you pay. Buying a bigger share also means a bigger mortgage and deposit, so it's a trade-off between monthly rent and monthly mortgage costs.
Yes, this is called staircasing. Most shared ownership leases let you buy further shares over time, up to and sometimes including 100%, at the property's market value when you staircase rather than the original purchase price. Each purchase reduces the rent you pay on the remaining unowned share.
2.75% per year is the rate most housing associations use as standard, though it isn't fixed by law and does vary between providers. It's worth checking the exact rate, and how it's reviewed each year, in the specific lease before committing.
Browse available shared ownership properties and see which shares are on offer.