Mobile styles on

How much will Shared Ownership Cost?

Monthly Costs of Shared Ownership

When purchasing a Shared Ownership property, you will make monthly payments which are made up of the following three payments:

Mortgage Payment

Each month you will make a payment to your mortgage lender, usually by direct debit. The amount paid each month is dependent on the product secured, and is between you and your mortgage lender.

Your Rent

You will pay your rent to us by direct debit. You will pay your rent to us by direct debit. This makes payment simple and convenient for everyone as the payments are taken directly from your bank account. Your rent will go up on April 1st each year by a set amount as agreed in your lease. We will tell you the new rent amount by mid March each year.

Service Charge

One of the key aspects of being a Leaseholder is that you will be required to pay a service charge. This is a sum of money collected monthly which covers your share of the cost of maintaining the communal area of the development and administer the contracts, buildings insurance and major work. Service charges usually only apply to apartments, though there can be service charges for houses if there are shared areas such as car parks or gardens and play areas.

For more information on the costs involved you can download our complete guide to Shared Ownership.

The purchasing costs of buying a Shared Ownership home

Lenders will require you to contribute towards the share in the property you wish to buy. Traditionally this is 10% of the share, however at times this can be higher or lower and can also be reflected in the interest rate given. You will need to discuss this with your Mortgage Advisor.

Excluding your mortgage deposit, you must have at least an average of £3,500 to £4,500 of savings to cover the costs of buying (depending on the value of your home)

Affordability IconThese costs are made up of the following:

Reservation fee – £500

Mortgage Adviser fee – Usually starts from £350

The Mortgage valuation fee – Usually starts from £375

Mortgage arrangement fee – Usually starts from £500

Solicitors’ fees – Starts from £500

Legal disbursements – Usually starts at around £200.

Stamp Duty Land Tax (SDLT)* – Seek the advice of your solicitor on the exact amount payable.

Deposit – £1,000

Telephone connection charges – Likely to be around £150

For more information on all the costs involved with Shared Ownership download our complete guide to Shared Ownership.


The 10 steps to purchasing a Shared Ownership property

In our comprehensive video guide, we take you through the ten steps to purchasing a Shared Ownership property with Family Mosaic, including the eligibility criteria.



Contact Us

If you would like more information on the cost of purchasing a Shared ownership property and what to expect from on going costs of home ownership, you can speak to a member of our team by email on or contact us by phone on 020 7089 1315.