Costs To Consider

Budgeting for a shared ownership purchase 

budgeting for the costs of buying shared ownership

Costs To Consider

  • Sufficient deposit to pay towards the share of the property you are purchasing (usually a minimum of 5% of your share purchase is required).
  • Reserve your property with a reservation fee of £500. This secures the property whilst the sale progresses and the £500 will be deducted from the monies taken on completion of the sale. If you withdraw from the sale the reservation fee is non-refundable.
  • When you have reserved your property, you will need to appoint a solicitor to act on your behalf. You will be responsible for all the costs. The solicitor can provide you with a full quote before you instruct them, and advise you on Stamp Duty and other costs.
  • At this stage you will also need to progress your mortgage to a full application. There may be costs incurred e.g. Mortgage valuation fee, arrangement fees, brokers fee. Ask your financial advisor to make any fees clear to you upfront.
  • After the sale completes, you will be paying your mortgage, rent, and service charge each month, plus your other commitments including household bills and insurances. Your mortgage is worked out based on the size of the share you’ve bought, and your rent is paid to emh. (It’s good to note that your rent will be reviewed every year based on market fluctuation, so remember to check your lease carefully for details of possible rent increases.)
  • please note that this list is not exhaustive and you may incur other costs along the purchasing journey.


We recommend you talk to an Independent Mortgage Advisor as soon as possible to confirm your borrowing options.

Please see below a list of Mortgage Advisors we work closely with who have a good understanding of shared ownership mortgages. They are not associated or part of emh.  Please contact them directly to discuss their services and fees.

Metro Finance

T: 0114 2701444


Jamie Hastie
Hawthorne Mortgages

T: 0115 9638965
M: 0794 1041150


Mark Singleton
Mortgage Advice Bureau

T: 01327 703252
M: 07971213099