Shared Ownership FAQ

What is the downside to shared ownership?

The main downside of shared ownership is that you are responsible for both mortgage repayments and rent on the share you do not own.

You may also need to pay service charges, and these can sometimes increase over time. In addition, selling the property can be more complex due to housing association rules and leasehold requirements.

However, for many buyers it remains a practical route onto the property ladder when buying outright is not currently affordable.

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 is shared ownership worth it.

Still weighing it up?

Every situation is different. Have a free, no-obligation chat and we will give you a straight answer for your circumstances.

01529 300500

What clients say

707 verified reviews, rated 5.0

260 reviews on Google and 447 on VouchedFor for 4 advisers, all independently verified. A 5.0 average across both.

5.0 average · Google & VouchedFor

VouchedFor

We required a mortgage advisor to get he ball rolling on the purchase of a house Nick was fantastic, he listened to what we needed and made our requirements the focus of what he did first and foremost. We were able to have open and honest discussions without worrying about anything and the aftercare we received was great too. Yes Nothing

Verified client in Lincolnshire

Review of Nick Spolton

VouchedFor

Nick was recommended to me by the Estate Agent after having made an offer on my first time house purchase. Nick helped me by taking the time to get a clear idea of my financial position and which mortgage products would be most suitable to meet my needs. He also submitted my mortgage application however before doing so ensured he had absolutely everything paperwork and evidence to make the process hassle free, my mortgage application was processed and I had my decision and offer within a few days. Absolutely! And crucially, having anticipated an increase in mortgage rates was advised to take a 5 year fixed deal almost 18 months ago, I am very grateful of this in the current climate and have another 3 years for this to hopefully settle down a little. I was pleased with the service from start to finish, Nick acted on things on a timely manner and followed up with agent/ Solicitors- I am grateful hearing others stories about mortgages to have had the advice and help I had.

Verified client in Lincolnshire

Review of Nick Spolton

VouchedFor

First time mortgage Nick was wonderful in explaining everything and finding us the best deal available for us. He was always clued up on the latest updates with availability rates and was always trying to score us the best deal to save us more money. He helped us get approved for a mortgage first time. We are now a year on happy in our first home

Verified client in Lincolnshire

Review of Nick Spolton

VouchedFor

We were first time buyers, with minimal knowledge on mortgages and the best options for us. Nick explained the process thoroughly, found us the best deal and made the application process so easy. He kept us updated with every step. Yes absolutely!

Verified client in Lincolnshire

Review of Nick Spolton

VouchedFor

To help with the help to buy scheme and home insurance / morgage Explains in depth any questions or queries I had in a professional manner Yes I shall be using him again come Jan 2025 for the remorgage Nothing excellent

Verified client in Lincolnshire

Review of Nick Spolton

707

Five-star reviews

5.0★

Average rating

Read all 707 reviews

From first chat to front-door key

Let’s make your move simple

Free, no-obligation consultation. We listen, compare the whole market, and hand you a clear plan, no jargon.

Free until your offer is approved No jargon, no pressure Whole-of-market advice

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

Our service is free until you receive a fully approved mortgage offer. There may then be a charge which, depending on your circumstances, will typically be £299, payable upon receipt of an approved mortgage offer. Our fee is discounted to £199 for Armed Forces and Blue Light Card holders.

Our fee is discounted to £199 for Armed Forces and Blue Light Card holders.

For remortgages, if best advice is to switch rates with your existing lender then we charge no fee at all.

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.
As with all insurance policies, conditions and exclusions will apply.
Not all Buy to Let Mortgages are regulated by the Financial Conduct Authority.
Equity release is arranged by introduction only.

Spolton Mortgages is a trading style of Spolton Ltd, which is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. FCA Number 993383.

Founded and incorporated on 7 August 2017. Spolton Mortgages is a trading name of Spolton Ltd (FCA Number 993383). Registered Company Number: 10903440 (view on Companies House). Registered in England and Wales.

Registered Office: Spolton Ltd, Spolton Mortgages, 6 Mill House, Carre Street, Sleaford, Lincolnshire NG34 7TW.