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        Updated: April 17, 2024

        Today’s Best Shared Ownership Mortgage Rates Compared

        If you’re considering shared ownership, you’ll want to know how and where to find the best shared ownership mortgage rates, and how a broker can help.

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        We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects. Ask us a question and we'll get the best expert to help.

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        The government’s shared ownership scheme is a great way to get on the property ladder if you’re on a low income or only have a small deposit, but how do you make sure you’re getting the best mortgage rates?

        In this article we’ll compare shared ownership mortgages, discuss how a broker can help you find the best deals and look at what you can expect to pay if you want to remortgage a shared ownership home.

        First of all, the rates table below provides an illustration of some of the best interest rate offers currently available for shared ownership mortgages.

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        Looking for more rates and deals?

        We can match you with a mortgage broker who can provide you with up-to-date bespoke rates and deals from across the entire market and help you secure the best ones available.

        Last updated August 2023

        Please note that all rates cited in these tables are purely for example purposes, were accurate at the time of writing (April 2023) and can be subject to change at any time at the lender’s discretion.

        What are the typical interest rates for a shared ownership mortgage?

        Depending on your circumstances and the type of mortgage you go for, at the time of writing (April 2023) you could expect shared ownership mortgage rates from around 3.8% with LTVs of 75%, up to 4.5%+ for 90% LTVs. Rates may be higher if you have any complex requirements such as bad credit or self-employment.

        You don’t need to apply for a special type of mortgage to finance a shared ownership property. You may find lenders referring to ‘shared ownership mortgages’ but this is to define the applicant’s circumstances rather than an exclusive mortgage type.

        You will find though that not all lenders offer their standard mortgages to shared ownership buyers, and this reduced supply can sometimes push rates up very slightly.

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        Maximise your chance of approval with specialist advice from an expert in Shared Ownership Mortgages.

        How a broker can help you compare the best rates

        While it is possible to research and compare shared ownership mortgages on your own, it makes a lot more sense to go through a broker who specialises in this type of mortgage.

        For a start they will have access to the whole of the market, so not only can they look at mortgages from traditional high street lenders, but they will also have relationships with the more niche lenders that would otherwise be harder for you to find. As a shared ownership mortgage is non-standard, these specialist lenders may be a good fit for you.

        If you’d like to speak with a mortgage broker who has the right experience in this area, get in touch with us and we’ll arrange for an advisor we work with to contact you straight away.

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        Best remortgage deals for shared ownership

        At the time of writing, (April 2023), you could remortgage for 3.89% on a two-year discounted rate mortgage from Newcastle Building Society, 3.95% on a similar mortgage from Chorley Building Society or 3.99% on a five-year fixed mortgage from Santander. All of these examples are based on a 60% LTV and subject to product fees of £999.

        One key question to consider is if you’re looking to remortgage simply to get a better deal, or if you want to remortgage and release additional equity at the same time. The latter would increase your LTV and could therefore be more expensive.

        Remember that what you see when you compare shared ownership mortgage rates is only a ‘typical’ rate, and what you’re offered could vary. Let your broker research on your behalf for an accurate comparison.

        Why Use Online Money Advisor?

        If you’re ready to take the next step and start looking for a shared ownership mortgage, then it’s time to speak to a broker. They’ll do all of the hard work comparing rates and terms for you to make the whole mortgage application process as stress free as possible.

        Give us a call now on 0808 189 0463 or make a quick online enquiry.

        We’ll ask you a few questions to assess your situation and then match you with the broker that has the most relevant skills and experience for you. Our broker matching service is free of charge and you’re under no obligation, so you’ve got nothing to lose.

        Ask a quick question

        We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects. Ask us a question and we'll get the best expert to help.

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        Pete Mugleston

        Pete Mugleston

        Mortgage Expert, MD

        About the author

        Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

        Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

        FCA Disclaimer

        *Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us as well as any of our own are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

        Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.