Onward Living Logo Onward Living Logo
Onward Living Logo

Shared Ownership Mortgage Calculator

Find out if shared ownership could be right for you

Instantly see your costs, affordability, and deposit requirements.


Overview

Shared ownership is a government-backed scheme designed to help people get on the property ladder sooner. By buying a share of a property and paying rent on the rest, you can secure a home with a smaller deposit and lower monthly mortgage payments than buying outright. Our shared ownership calculator makes it easy to understand your costs, compare scenarios, and check affordability — all in one place.

Why Use a Shared Ownership Calculator?

A shared ownership calculator gives you more than just numbers — it provides insight into whether this route could be affordable for your situation. With our calculator, you can:

  • Adjust share percentages to see how your monthly costs change.

  • Factor in your deposit to calculate your mortgage requirement.

  • Include service charges for a true total monthly payment.

  • Check affordability based on your income.

How Shared Ownership Works (Step-by-Step)

Step 1: Choose your property share — typically between 25% and 75%.

Step 2: Pay rent on the remaining share to the housing provider.

Step 3: Save on deposit costs — you only need to pay a deposit on the share you’re buying.

Step 4: ‘Staircase’ up — buy more shares over time until you own 100%.

 

Shared Ownership in Numbers

  • Around 200,000 households in England currently use shared ownership.

  • The average initial share purchased is 40%.

  • Over 60% of shared ownership buyers are first-time buyers under the age of 35.

  • In many regions, shared ownership can reduce upfront costs by over 50% compared to buying outright.

Regional Affordability Chart

Frequently Asked Questions

Q: Can I increase my share later?

Yes. This is called ‘staircasing’ and lets you buy more of your home over time, potentially reaching 100% ownership.

Q: Who is eligible for shared ownership?

You’ll typically need a household income under £80,000 (£90,000 in London) and be a first-time buyer or unable to buy a suitable home on the open market.

Q: Can I sell my shared ownership home?

Yes, but your housing provider will usually have the first option to find a buyer.

Q: Is shared ownership cheaper than renting?

In many areas, monthly costs are lower than renting an equivalent property, especially for new-build homes.