Shared Ownership Mortgage Calculators

See exactly how much you could borrow for a shared ownership mortgage with help from an expert broker.

Firstly, are you looking to purchase a shared ownership / shared equity property?

Home Shared Ownership Shared Ownership Mortgage Calculators
Pete Mugleston

Author: Pete Mugleston

Mortgage Advisor, MD

Updated: March 15, 2024

Shared Ownership has helped many people who’d normally struggle to afford a home of their own get onto the property ladder. It’s a happy middle ground between buying and renting which can serve as the gateway to full homeownership.

But how will your repayments be calculated? How much can you borrow and where can you find a reliable Shared Ownership calculator? You’ll find the answers to all of these questions in this guide.

What is a Shared Ownership mortgage calculator?

A Shared Ownership mortgage calculator is a tool you can use to work out what your monthly mortgage and rent payments will look like if you were to buy a property through this government scheme.

You can find one below and give it a try…

Shared Ownership Calculator

Our shared ownership calculator will give you an indication of how much your monthly repayments will be overall, including both for your mortgage and rent. All you have to do is enter details for the property purchase price, interest rate, term length, percentage share and the deposit into the appropriate field.

Enter the value of the property
Enter the mortgage rate, 5.5% is a typical rate currently but this can vary
Enter the share you're buying as a percentage
Share too high
Enter the mortgage term, 25 years is the average but lenders can offer shorter and longer terms
Enter the deposit amount here
Deposit must be less than property value

Your Results:

Monthly rental payments:

Mortgage repayments:

Total monthly repayments:

Get started with a specialist shared ownership broker who can find the right lender and best possible terms for your circumstances.

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How do these calculators work?

A lender will use a mortgage calculator for shared ownership to work out how much your repayments will be on the amount you are looking to borrow and also to calculate what the rental payments will be on the remaining amount.

The information they input will typically be –

  • Total purchase price of the property
  • The amount you are looking to borrow
  • Your deposit
  • The term of the mortgage
  • Your income
  • Your committed expenditure

A lender will be able to calculate the repayments using their internal interest rates they would look to charge for these types of mortgage and factor in any associated fees and charges that may also apply.

You should note that some lenders use more sophisticated calculators than others. For instance, one lender might only input the data mentioned above, while others will factor in data from your credit file. This being the case, the amount of mortgage you’re offered can differ from one provider to the next, sometimes significantly.

This is why it’s important to speak with a whole-of-market shared ownership broker before proceeding. The advisors we work with can introduce you to the lender whose shared ownership mortgage calculator is most likely to return favourable results for you.

Maximise your chance of approval with a dedicated specialist broker

What types of Shared Ownership mortgage calculators are there?

There are a number of different types of shared ownership mortgage calculators that will be able to calculate different information, such as:

Affordability calculators

All mortgage providers use their own criteria and specific shared ownership calculator to work out how much they feel you can afford to borrow.

In a general sense, the affordability guidelines used for shared ownership calculators will not differ dramatically from those of a conventional mortgage. A lender will use your gross household earnings and apply an income multiple to work out the maximum possible mortgage they feel you could afford.

For this type of lending most providers would use 4 x your salary, however, some will consider 4.5 x your salary.

On this basis, our mortgage affordability calculator below is a good place to start…

Mortgage Affordability Calculator

Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.

Input full salaries for all applicants

Your Results:

You could borrow up to 

Most lenders would consider letting you borrow

This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.

Some lenders would consider letting you borrow

This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.

A minority of lenders would consider letting you borrow

This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.

Get Started with an expert broker to find out exactly how much you could borrow.

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Although most mortgage providers will cap their lending at 4-4.5 times your income, with the help of the whole-of-market shared ownership brokers we work with, it may be possible to find a specialist lender who would be willing to stretch to x5 or x6, as long as you tick all (or at least most) of the other boxes on their eligibility checklist.

Keep in mind: The above table only provides a rough idea of the amount you could potentially borrow, but it’s also important to factor in how much you will be paying in rent on the share of the property you do not own. Read on for more information…

Mortgage and rent calculator

The calculator that appears at the top of this article is for working out your potential mortgage and rent payments.

With a Shared Ownership mortgage you have the opportunity to buy a share of your home (usually between 25% and 75%) with the remaining percentage owned by either a house builder, private investor or a housing association. In addition to a mortgage for your share, you would be expected to pay rent on the other share.

A Shared Ownership mortgage and rent calculator will work out both the repayment for the amount you are looking to borrow and also the amount of rent you would be expected to pay for the remaining amount.

The table below illustrates how this may work out:

Property Purchase Price Share to buy – 50% Remaining Share – 50% 5% Deposit Amount to Borrow Monthly Mortgage Payment (At 4%)** Monthly Rental Payment (At 3%)**
£200,000 £100,000 £100,000 £5,000 £95,000 £501.44** £250.00

(* – based on a 25 year term / **- both rates used are for example purposes only)

Most lenders will require a 5% deposit from you for the amount you want to borrow, however, some will consider lending you the entire amount of your share. For the remaining share, the landlord will collect rent from you.

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Ground rent

All shared ownership properties are sold on a leasehold basis, therefore, in addition to your mortgage and rent payments you will also have to pay a yearly ground rent premium.

A more advanced mortgage calculator would also be able to take this premium into account when establishing the overall cost to you for a shared ownership scheme.

Disposable income

Some lenders’ calculators will request information about both your gross income and major outgoings in order to establish the amount of disposable income available before working out how much you would be able to afford to repay, in line with their internal affordability assessments for a shared ownership mortgage.

Credit history

A poor credit history can cause problems with how much a provider may be prepared to lend you, depending on the type of issue you’ve had and when it was registered.

A lender using a sophisticated shared ownership mortgage calculator will be able to factor in how much you may be able to borrow if you have had any credit problems in the past.

Speak to a Shared Ownership mortgage expert

Now that you have a rough idea of your maximum borrowing and potential mortgage payments, you should speak to a Shared Ownership mortgage broker to get some bespoke calculations. From here, your advisor will increase your chances of landing the best mortgage deal by matching you with your ideal lender, first time.

Through our free broker-matching service you can rest assured that you’ll be paired with the right advisor, one of specialises in arranging Shared Ownership mortgages for people just like you.

Call Online Mortgage Advisor today on 0808 189 2301 or make an enquiry to get started today.

About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

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