Our mortgage calculator explained
Your deposit amount
Your deposit is the money you’ll pay upfront towards your new home. It’s your first step in showing a mortgage lender that you’re committed to buying. With Shared Ownership, your deposit is based only on the share you’re purchasing, not the full value of the property. That means you won’t need to save as much as you would for a traditional home purchase.
For example, if the full property price is £200,000 and you buy a 50% share (£100,000), a 5% deposit would be just £5,000. Your mortgage would then cover the rest of your share. Having a clear idea of your deposit amount helps you see what’s affordable and how your savings can go further through Shared Ownership.
Full purchase price
This is the total market value of the home — the amount it would cost to buy outright. It helps you understand the full picture of what your property is worth, even though you’ll be purchasing just a share for now.
The full purchase price can be found in the detailed listing for each home, alongside information like location, layout, and energy rating. Knowing the full purchase price is helpful when comparing developments or exploring future options, such as buying more shares later on. It also gives you a sense of security in knowing exactly what your home is valued at within the wider market.
Shared Ownership %
Your chosen percentage represents how much of the home you’ll own from the start. Most buyers begin with a share between 10% and 75%, depending on an affordability assessment.
You’ll pay a mortgage on the part you own, and a reduced rent on the remaining share, which is owned by us. You might have the option to increase your share — a process called “staircasing” — until you own your home outright if you wish. This flexibility is one of the main benefits of Shared Ownership, allowing you to start smaller and increase your ownership when it suits your finances.
Mortgage interest rate
Your mortgage interest rate determines how much your lender charges you to borrow money for your share. It’s shown as a percentage and can be either fixed (staying the same for a set period) or variable (changing in line with wider market rates). Even a small difference in rate can affect your monthly payments, so entering your exact rate — if you know it — will help you get the most accurate calculation.
If you’re unsure of your current or future rate, you can use an average figure to get a general idea. Mortgage advisors can help you compare rates from different lenders, so you can see what’s available and what best fits your circumstances.
Mortgage term
Your mortgage term is the number of years you’ll take to repay your loan. Most Shared Ownership buyers choose a term between 25 and 35 years, depending on age, income, and lifestyle. A longer term often means lower monthly payments but more interest overall, while a shorter term can reduce the total cost but increase your payments each month.
It’s worth considering what feels sustainable for your household budget, as the right term can make your mortgage more manageable. The mortgage calculator helps you visualise how different terms affect your payments, so you can make an informed decision with confidence.