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Shared ownership mortgaes

Due to the operational challenges created by the COVID-19 pandemic, we have temporarily restricted our lending criteria and withdrawn a number of our mortgage products. Visit the FAQs for more information.

Getting on the property ladder traditionally requires a significant deposit - typically anything from 5% and upwards of the purchase price - which can be very difficult for some people to save for. This scheme allows first time buyers to purchase just part of the property initially, paying rent to a housing association for the remaining share that is not owned initially.

Applicants do not necessarily need to be first time buyers, and can have previously owned a home or rented, either privately or through a council or housing association.

Often cheaper than private rental accommodation, shared ownership mortgages help to make purchasing a home more affordable because you take out a mortgage only for the share you own - typically between 25% and 75%. That means your mortgage deposit is only calculated on your share of the overall purchase price, and not the full purchase price, which is a more manageable amount to save.

Of course, you will still need to budget for the monthly mortgage repayments and also the rental payment to the housing association.

Staircasing and shared ownership

You may find with a shared ownership mortgage that your outgoings are reduced, which means that you could be able to put money aside each month and start saving. Subject to the conditions of your property and the purchase agreement, you may be able to purchase further shares and eventually own the home outright. Known as “staircasing”, the cost of your home’s shares will depend on the value of your home at the time. When you own the property outright, you’re able to sell it on the open market. If you wish to sell before you own 100% of the home, the housing association can find its own buyer.

Find out more about the mortgage packages available from Ipswich Building Society.


About our shared ownership mortgages

  • Loan size: £50,000 to £500,000 - see individual product details
  • No application, completion or valuation fees (up to max property value £1m)
  • Loans available up to 95% of the share
  • No automated credit scoring (but we do expect a good credit history, and mortgage applications will be subject to standard qualifying criteria)
  • Overpay your original loan amount by up tp 50% with no early repayment charges (for overpayments above 50%, the early repayment charge is 3% of the overpayment for the fixed rate product and 1% of the overpayment for the discount rate product)
  • Find out more about shared ownership mortgages in our blog post

Features of our shared ownership mortgages



You'll buy a share of the property and pay rent on the remaining share you do not own. Gradually you can buy further shares and eventually buy your home, if the lease allows.


A good credit history

We don't use automated credit scoring to assess your suitability, but we do expect a good credit history.


Early repayment charges

You can over pay by up to 50% with our mortgages and not incur any early repayment charges. See the tabs above to check this and other charges.

half built

Unusual construction

We know houses, just like people come in all shapes and sizes and materials! We can consider a range of construction types as well as the 'yet to be built'.

Your home may be repossessed if you do not keep up repayments on your mortgage.