Shared Ownership & Government-Backed Schemes

Shared Ownership & Government-Backed Schemes

If saving a large deposit or meeting full affordability feels challenging, shared ownership and government-backed schemes can provide a practical route onto the property ladder.

At Mortgage321, we provide clear, tailored advice to ensure these schemes genuinely work for your circumstances — not just today, but long term.

 
What Is Shared Ownership?
Shared ownership allows you to purchase a percentage of a property (typically 25–75%) and pay rent on the remaining share to a housing association. The scheme is supported by Homes England and is designed to help buyers who cannot afford to purchase outright.

You’ll:

• Take a mortgage on the share you buy
• Pay subsidised rent on the remaining shar
• Usually require a smaller deposit
• Have the option to increase your ownership over time (staircasing)
   
  Other Government-Backed Options
  Depending on eligibility, you may also benefit from:
• First Homes Scheme – Discounted new-build homes for eligible buyers
• Mortgage Guarantee Scheme – Supporting higher loan-to-value borrowing (e.g., 95%)
  
  Availability and lender criteria vary — and not all lenders participate.

How We Help
Shared ownership mortgages are assessed differently. Lenders review your income against both mortgage repayments and rent, alongside service charges and lease terms.

We ensure:

• Affordability is properly assessed
• The right lender is selected
• Scheme criteria are fully met
• Your future remortgage options are considered
  
  With over 30 years of industry experience, Mortgage321 provides structured guidance so you can move forward with clarity and confidence.

If you’re exploring shared ownership or a government-supported route, speak to us for tailored advice based on your income, deposit, and long-term plans.

Your Local Mortgage Partner

At Mortgage321, located in the heart of Colchester, we pride ourselves on delivering personalised, client-focused mortgage solutions. Our expert team combines in-depth market knowledge with a commitment to finding the best deals tailored to your needs. With a proven track record and unparalleled customer service, we ensure a seamless experience from start to finish, making your dream home a reality with ease and confidence.

Choose us, and experience the difference of a dedicated local mortgage partner.