Can I Afford Shared Ownership Calculator
Whether you can afford shared ownership depends on the share size, the property value and your income together. A smaller share means a smaller mortgage but higher rent, while a larger share means a bigger mortgage but lower rent. The total monthly cost is what matters, and it does not always fall as the share rises.
Try the calculation both ways. On a £300,000 home, a 25% share gives a £75,000 share price and about £516 a month of rent on the remaining £225,000, plus a small mortgage. A 50% share gives a £150,000 share price, about £344 of rent and a larger mortgage. The totals are often surprisingly close, so the right share is the one whose total fits your budget with room to spare.
Do not forget the service charge, which can be several hundred pounds a month on new-build flats, and the cost of staircasing later if you plan to buy more shares. A shared ownership calculator that shows mortgage plus rent gives you the core figure; add the service charge yourself for the full picture.
- Smaller share: smaller mortgage, higher rent. Larger share: reverse.
- Compare totals across share sizes; they are often close.
- Add the service charge for the true monthly cost.
Try the free calculator to work out your own figures in seconds.