Shared Ownership - A Smarter Path to Homeownership

​Thinking about buying your first home or returning to the property market? Shared Ownership offers a flexible way to own part of your home while paying rent on the remainder. This option helps you to get on the property ladder with a lower deposit and manageable monthly costs.

• Step-by-step Shared Ownership process​
• ​Key affordability considerations
  
• AML compliance and documentation
  
  

Step 1: Eligibility – Are You Ready to Buy?

​To qualify, you must generally meet the following criteria:

• Be aged 18 or over
  

• Household income below £80,000 (or £90,000 in London)
  

• Not own another home, or be selling one soon
  

• Demonstrate the ability to afford deposit and mortgage repayments
  

• Provide proof of steady income, savings, or eligibility for government schemes
  
  

Ideal for first-time buyers, graduates, young families, and professionals, Shared Ownership opens doors to homeownership that might otherwise remain closed.

Check your shared ownership affordability and eligibility here and find out how much you can afford with our Affordability Calculator.

Step 3: Financial Assessment & Mortgage in Principle

​You'll need a Mortgage in Principle (MIP) from a lender, which confirms that they're likely to approve your mortgage for the share you intend to buy. Expect to provide:

• Payslips or benefit income statements
  

• Bank statements and savings documentation
  

• Details of any outstanding debts
  

• Confirmation of the deposit amount, typically 5–10% of your share
  

This assessment confirms your ability to manage ongoing payments, starting with mortgage, rent, service charges, and ground rent (if applicable).

Step 4: AML Checks – Protecting Your Purchase

Under UK law, AML checks are mandatory for property transactions. As you proceed:

• Your solicitor and Sage will verify your identity and address
  

• You'll need to show the source of funds, whether from salary, savings, or gifted deposits
  

• Documents required include passport/driving licence, bank statements, proof of deposit, and gift letters if applicable
  
  

These measures verify that your funds come from legitimate sources, protecting everyone involved.

Step 5: Legal Process & Contract Exchange

​Once AML is confirmed and your mortgage is approved:

• Your solicitor drafts the contract and final legal paperwork
  

• You’ll receive and approve the lease and share terms
  

• You’ll pay the deposit and formally agree on the completion date
  
  

At this point, you’re one step closer to owning your shared ownership home, and you commit to the purchase and prepare for completion. 

Step 6: Completion & Moving In

On the agreed date:

• Your home purchase is completed
  

• You receive the keys to your new home
  

• Subsidised rent on the remaining share begins
  

• You may begin paying service charges (for maintenance and communal services)

Find out what service charges are, how they work and are calculated. 

You are now a shared ownership homeowner. How much you own depends on the share you agree to purchase, but there is flexibility to increase your share over time - this is called staircasing.​

Affordability: What to Expect Monthly

Your monthly costs typically include:

• Mortgage payment (on your share)
  

• Rent (on the unowned portion)
  

• Service charge and ground rent (if applicable)

  
  

Shared Ownership from Sage, get on the property ladder faster

Buying a Shared Ownership home means you can secure a share of a property with a much smaller deposit. You’ll pay a reduced rent on the remaining share and can increase your ownership gradually if and when it suits you.

It’s a practical, affordable way to live in a location that offers peace, charm and real community spirit,  without compromising on quality or connection.

Whether you’re working nearby or moving out of a big city, this could be the start of your next chapter. 

For more information, take a look at our advice hub.