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Shared Ownership

It’s important to have a greater range of solutions for all potential homebuyers, especially for those who may have smaller deposits. Shared Ownership (also known as ‘Part Own, Part Rent’) is all about giving your clients more options when it comes to getting onto the property ladder.

Customers with smaller deposits may be able to buy a home through the Shared Ownership scheme if they don’t have the whole deposit or can’t meet the full monthly mortgage payments for a home that meets their needs. It means they own a share of a property, rather than the whole property.

Our Shared Ownership range is available for properties with an EPC rating of A-C, with mortgages available up to 95% of the share being purchased, subject to a maximum 75% LTV of the open market value of the property.

There are some eligibility requirements we need to check before we can consider your client’s request.

Eligibility requirements:

  • Maximum 95% of purchased share, subject to maximum 75% LTV against open market value
  • Purchase only
  • For properties with EPC rating A-C
  • Self employed 12 months minimum trading acceptable
  • No minimum credit score
  • Minimum loan £25,001
  • Maximum loan £405,000
  • Up to 40 year term
  • RL0 and RL1 products only
  • Capital & Interest repayment only
  • No defaults or CCJs in the last 36 months
  • Outside of London, annual household income must be less than £80,000
  • In London, annual household income must be less than £90,000
  • In Wales, annual household income must be less than £60,000
  • Up to 2 missed payments on each unsecured credit agreement considered
  • Telecommunication and utilities defaults are not considered adverse credit
  • Arrears on unsecured credit balances under £500 are ignored

Find out all you need to know for you and your clients with our helpful Residential Criteria Guides and within our FAQs below.

Here you can find our frequently asked questions

Usually between 25% and 75% of the properties open market value (although this can be as low as 10% for some homes) can be purchased - with rent being paid on the remaining share which is owned typically by an approved Housing Association or other registered scheme providers.

We’ll accept Shared Ownership scheme providers registered in England and Wales with the Homes and Communities Agency (Homes England), the Welsh Assembly (Shared Ownership-Wales), and Registered social landlords.

As your client is buying a share of the property, they will only need a deposit based on that share, as opposed to full market value. At TML, we will consider lending with a 5% deposit of the share being purchased. Depending on the share bought, this could significantly reduce the deposit needed when compared to a standard property purchase.

To be eligible for the Shared Ownership scheme, household income must be £80,000 a year or less (£90,000 in London & £60,000 in Wales). Customers must also be either first-time buyers, or previous homeowners, who cannot afford to buy a property with a standard mortgage. Arrangements must be through a registered Housing Association or other registered scheme providers. At present, TML Shared Ownership mortgages are available for purchase only.

You can find more useful information on Shared Ownership on the website – Shared ownership homes: buying, improving and selling: How shared ownership works - GOV.UK.

Great! We'll be happy to help, you can find your local BDM on our website - Your Business Development Manager- Intermediaries | The Mortgage Lender. Alternatively, you may wish to contact our Business Development Hub on 0344 257 0418


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