A minimum 5% deposit on your equity share, legal fees typically £1,500–£2,500, plus ongoing rent on the unsold share. Here's everything you need to budget for shared ownership.
While shared ownership can help you get onto the property ladder, there are costs you need to consider. This includes conveyancing or solicitor fees, which are an integral part of the shared ownership process.
A shared ownership deposit will cost at least 5% of your equity share of the property. As you're not purchasing the whole property, you won't be expected to pay a deposit on the full cost.
Example Calculation
Property value: £200,000 | Your equity share: 25%
Share cost: £50,000
10% deposit: £5,000
Mortgage needed: £45,000
Plus ongoing rent on the remaining 75% share you don't own
Typically, buyers purchase a 25%–75% share of the property. Some schemes allow a 10% initial share. According to the UK government's Shared Ownership Scheme:
Buying a shared ownership property requires a solicitor experienced in leasehold conveyancing, as most shared ownership properties are leasehold. Typical solicitor fees for shared ownership:
| Fee Item | Typical Cost |
|---|---|
| Legal fee (shared ownership purchase) | £1,500–£2,500 |
| Shared ownership supplement (on top of base fee) | £300–£650 |
| Property searches | £250–£450 |
| Land Registry registration fee | Based on share price |
| Notice of Transfer | ~£143 |
| Deed of Covenant | ~£159 |
| Certificate of Compliance | ~£179 |
1. Deposit
Minimum 5% of the share value you're buying. For a 25% share on a £200k property = £2,500 minimum deposit.
2. Mortgage Payments
On the share you purchase. Lenders offer mortgage products for shared ownership — compare deals carefully.
3. Rent on Unsold Share
You pay subsidised rent on the share you don't own (usually 2.75% of the unsold equity per year, charged monthly). This reduces as you staircase upwards.
4. Service Charge and Ground Rent
As a leaseholder, you'll pay service charges (building maintenance) and potentially ground rent. Ask for the full schedule before committing.
5. Solicitor and Conveyancing Fees
See the table above. Always ask for a full itemised quote including the shared ownership supplement and all leasehold charges.
6. Stamp Duty (SDLT)
Can be paid on the full market value (one-off election) or in stages as you staircase. First-time buyer relief may apply. Seek advice from your solicitor on which option is best for you.
7. Staircasing Costs (Future)
When you buy more shares later (staircasing), you'll pay solicitor fees again (£900–£1,700+ depending on complexity) plus a RICS valuation fee.
Save £900 on Your Shared Ownership Conveyancing
Compare verified solicitors experienced in shared ownership
Compare QuotesTo qualify for the government's Shared Ownership scheme you generally must:
Yes. Shared ownership is a leasehold transaction with additional legal complexity. You must use a solicitor or licensed conveyancer, and they should have experience specifically with shared ownership purchases.
The upfront costs (deposit, solicitor fees) are lower, but ongoing costs include both a mortgage AND rent on the unsold share plus service charges. Over the long term, owning outright is usually cheaper — but shared ownership can get you onto the ladder when you can't afford full ownership yet.
Yes — but the housing association usually has first right of refusal (they can find a buyer before it's sold on the open market). If you've staircased to 100%, you can sell freely. The process involves solicitor fees, a RICS valuation, and potentially estate agent fees.