How much deposit will I need?

How much deposit will I need to buy a Shared Ownership home?

Many mortgage providers will ask for a 10% deposit on a home before they will consider lending you money. With Shared Ownership, the minimum you’ll need is 5% of the share you intend to buy. So for example, a 50% share of a £200,000 home is £100,000. The minimum deposit you’ll need for this is £5,000.

You can put in more than a 5% deposit if you have it, and this could mean that you are able to purchase a larger share if you can afford to do so. This will reduce your rental cost on the remaining share and mean you will own more of your home.