The deposit is usually between 5% and 10% of the share you are purchasing, not the full property value.
For example, if the full property is worth £240,000 and you are buying a 25% share worth £60,000, a 5% deposit would be £3,000.
This is one of the reasons shared ownership can be a more accessible option for first-time buyers.
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
For the full picture, read our guide to shared ownership costs.
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