Shared Ownership

This scheme is designed to try and provide affordable housing so we have decided to remove our 0.4% product fee to try ease the stress of getting a mortgage.

You can get a shared ownership home through a housing association. You buy a share of your home (between 25% and 75%) and pay rent on the rest. This allows for the applicant to get on the property ladder and become an owner occupier, which provides them with long term stability and security without overstretching their budget.

We require a minimum share of 30% to be purchased and that the lease allows you to purchase additional shares right up to 100% of the ownership.

You have the option to buy a bigger share in the property at a later date.  These schemes are aimed at people who don’t earn enough to buy a home outright.

Most of the homes available are newly built, but some are properties being re-sold by housing associations.  All shared ownership homes in England are offered on a leasehold only basis.

Product Name

The overall cost for
comparison is:

Rate structure based on our Standard
Variable Rate




Early Repayment Charges

2 year Residential Fixed Rate 3.79% RDF007

5.4% APRC

3.79% fixed for 2 years followed by Standard Variable
Rate (SVR), currently

Purchase up to 95%* Loan To Value (LTV).

*London Purchase & Remortgage up to 75% Loan To Value (LTV). 

Overpayments up to 20% of the capital balance as at 1 January are allowed in each calendar year without penalty.

  • Administration Fee £125

  • Valuation Fee (scale)

  • Completion Fee £75.

3% in year 1, 2% in year 2, plus a Closing Administration Fee (currently £100).

An example: A mortgage of £118,000 taken out for a period of 30 years on a repayment basis.

Monthly instalments: £549.98 per month for 23 months, followed by £662.44 per month for 336 months.

Total amount payable: £235,909.38.

Total amount of credit: £118,000.

The total amount payable includes valuation fee £230, administration fee £125, closing fee £100 and completion fee £75.

This example relates to Product Code RDF007, is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.

We have no current plans to withdraw these products but they may be withdrawn without notice. Ask for a personalised illustration.

Lending Criteria and Information


Size: Minimum £50,000, Term: Minimum 5 years, Maximum 40 years.

Minimum 30% Share of property


Minimum Value: £100,000. Must be in England or Wales.


Age: Minimum 18, maximum is 85 subject to income in retirement.


Household income must be at least £20,000.

No minimum period of employment, but must have passed probation, or 3 years self-employment history

The amount we will lend will depend on the value of the property and a calculation based on income and expenditure. As a guide, we will take gross annual income and then apply a deduction for the annual amount paid towards any existing debts or other financial commitments. We apply the following multipliers to the amount remaining:

Income After Deductions

Sole Borrower

Joint Borrowers




Over £50,0000



These multiples are for guidance only and do not guarantee that we will lend the amount indicated. We will carry out a full assessment of your clients income and expenditure to ensure that they can afford the mortgage both now and in the future.


We take a flexible approach to underwriting and will consider each case on its merits. We do not credit score. The actual rate and APRC for the case will depend on your clients circumstances and our assessment of the risk.

Procuration Fees:

We will pay an uncapped procuration fee of 0.35% of the amount borrowed to directly authorised and regulated intermediaries on completion of the mortgage. Where the intermediary is an Appointed Representative, the fee will be paid to the Principal. In the event of a change of Principal for any reason, the fee will be paid to the firm responsible for the information or advice at the time the sale was made.

Please contact the Intermediary Sales team to discuss your requirements by calling us on 01225 475702 or by email at