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Shared ownership mortgages
We specialise in mortgages for shared ownership (also known as part ownership mortgages or co ownership mortgages) and support affordable housing in the UK. If you are interested in a shared ownership mortgage and are purchasing a property which is energy efficient, see how we can help.
Key Features
- Our current Standard Variable Rate is 6.29%
Representative example:
A mortgage of £80,600 payable over 25 years on a variable rate, currently 6.29%, would require 1 monthly payment of £909.45 and 298 monthly payments of £534.43. The total amount payable would be £160,809.59 made up of the loan amount plus interest (£79,569.59) and a mortgage application fee of £300 and a valuation fee of £340 (assuming a purchase price of £125,000).
The overall cost for comparison is 6.6% APRC representative - We’ll consider lending up to four times joint or sole income subject to loan to value and an affordability assessment
- We're currently focusing on properties that are aiming for Passivhaus or EPC B (SAP rating 85+) or above
- Energy-efficient homes are rewarded with discounts off our Standard Variable Rate - see details below of how our C-Change sustainable homes discounts work
- You can borrow up to 95% of the property’s value or purchase price (whichever is the lower) of the share being purchased
- An early repayment charge may be payable if you repay all or part of your mortgage within the first two years
- A non-refundable mortgage application fee of £300 is payable in addition to a mortgage valuation fee
- A maximum mortgage term of 30 years is available, subject to eligibility
- Mortgages are available on a repayment basis only
- Borrowers must be aged 18 or over. This mortgage is only available to UK residents.
What we lend on
We are experts in providing mortgages for shared ownership properties which are energy efficient. We consider properties or flats for our shared ownership mortgage - where the flats are in a building which has no more than 4 storeys.
Our mortgages are available in the UK (England, Scotland, Wales and Northern Ireland).
Our standard of service
The Financial Conduct Authority (FCA) has laid down detailed rules about the service we must offer on regulated residential mortgages. Under these rules, we will provide you with advice and a recommendation on which of the Society's products is most suitable for you, based on your needs, preferences and affordability.
Further information
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Customer project
Jenny’s Story: A Simple & Light Urban Passivhaus
Project type: Self-build
In her mind’s eye, Jenny wanted a self-built home that was simple and beautiful, plain but not austere, with high ceilings and flooded with light from every direction. She also wanted to create a low-energy and low-tech build, constructed from sustainable, locally sourced materials. With the support of an Ecology mortgage, Jenny achieved this ...
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Customer project
UK’s 1st Certified Passivhaus Plus Self-Build Home
Project type: Self-build
Rob and Karin set out to build a comfortable family home that would improve their quality of life as well as reduce their carbon footprint. They chose the Passivhaus Plus standard for their build, which combines the Passivhaus approach to minimising energy requirements with on-site renewable energy generation. This means that the building ...
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Customer project
Irene & David’s Story: Converting To Passivhaus
Project type: Conversion
After living happily in a Victorian house on the outskirts of Ripon, North Yorkshire, for 20 years, Irene and David were ready for a change. They wanted a home that was less costly to heat and maintain, in a location that would reduce their reliance on car travel. This is exactly what they achieved. Their new house is an energy-efficient converted ...
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Rated as an ethical Best Buy for our mortgages and savings
As a building society with a unique mission to build a greener society, we lend on projects and properties that support our aims through their reduced impact on our environment. Making your home energy efficient is a major way you can support tackling climate change – while saving on your energy bills.
We reward borrowers whose properties are energy efficient (therefore have lower carbon emissions) with our C-Change discounts off our Variable Rate which helps them save money on their mortgage. We call our discounts ‘C-Change discounts’ simply because we’re aiming to make a ‘sea-change’ of difference to our climate with each property or project we fund.
The level of our C-Change sustainable homes or C-Change retrofit discount that applies is based on the Energy Standard rating achieved on the self-build, off-site build, renovation or conversion when the work is completed. Our C-Change energy improvements discount is based on the qualifying energy measures being installed. The discount is applied from the date we receive evidence that the work has been completed and if applicable the Energy Standard rating required has been achieved.
Normally you will be purchasing a property that is already fully completed and to qualify for our mortgage the property must be classified as an energy efficient property. You will need to provide us with evidence that the property achieves one of the Energy Standards ratings in the table below.
How we work out your Variable Mortgage Rate:
Standard Variable Rate (SVR) minus C-Change discount = Variable Mortgage Rate
| Energy Standard | Ratings | SVR (Standard Variable Rate) | Discount % | Variable Mortgage Rate |
|---|---|---|---|---|
| Passivhaus | Passivhaus | 6.29% | 1.50% | 4.79%. The overall cost for comparison is 5.00% APRC representative. |
| Passivhaus | PHPP Modelled | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.80% APRC representative. |
| Energy Performance Certificate (EPC) | A (SAP rating 110+) (++) | 6.29% | 1.25% | 5.04%. The overall cost for comparison is 5.20% APRC representative. |
| Energy Performance Certificate (EPC) | A (SAP rating 100-109) (+) | 6.29% | 1.00% | 5.29%. The overall cost for comparison is 5.50% APRC representative. |
| Energy Performance Certificate (EPC) | A (SAP rating 92-99) | 6.29% | 0.75% | 5.54%. The overall cost for comparison is 5.80% APRC representative. |
| Energy Performance Certificate (EPC) | B (SAP rating 88-91) | 6.29% | 0.50% | 5.79%. The overall cost for comparison is 6.00% APRC representative |
| Association for Environment Conscious Building (AECB) | AECB CarbonLite Building Standard | 6.29% | 1.00% | 5.29%. The overall cost for comparison is 5.50% APRC representative |
