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Monthly costs of shared ownership

Just like any home, a shared ownership home will come with its own set of monthly bills, which will need to be considered ahead of securing your property.

Mortgage repayments

As you own part of your shared ownership home, you will need to make repayments on your mortgage until this has been repaid. This amount can vary depending on the amount you have borrowed and how long your mortgage term is.

Access this handy mortgage calculator to give you an idea of costings.

Rent

We will calculate how much rent and service charge you will need to pay, and the exact figure will be shared with you following your application. This tends to be around 2.75%.

For example:

Property value: £200,000
Your share: 40% (£80,000)
Our share: 60% (120,000)
Yearly rent (charged at 2.75%): £120,000 x 2.75% = £3,300 per year
Monthly rent: £3,300 divided by 12 = £275 per month

Service charge

Service charges are charged separately from your rent and is an additional payment towards the cost of providing and maintaining any communal areas and services outside your home.

The cost of your service charge will be confirmed with you following your application.

Home insurance

Buildings insurance is included within your service charge payment. This covers the financial cost of repairing damage to the physical structure of your property.

Contents insurance, which covers items such as your carpet, furniture and personal belongings is your responsibility and something we would encourage you to get.

Take a look at contents insurance quotes on Compare the Market or Confused.com.

Other costs

Other monthly costs to bear in mind include:

  • Council tax
  • Energy bills
  • Water bill
  • TV, broadband and phone bills
  • TV licence
  • Food and home essentials
  • Luxuries

Shared ownership buyers guide

Common questions and answers, take a look at our buyers guide or read our FAQ's section.

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Get in touch

Tell us what you're looking for and we'll get straight back to you

About Shared Ownership

Shared ownership is a great way of buying your own home.

About Shared Ownership

Available homes

Current shared ownership properties, as well as those that are coming soon.

Available homes

Shared ownership staircasing guide

You can purchase further shares in your home from us at any time up to the full value.

Shared ownership staircasing guide

Steps to buying a shared ownership home

The buying process can seem a bit daunting, but it doesn't need to be.

Steps to buying a shared ownership home

Building new homes

We're building new affordable rental and shared ownership homes.

Building new homes

Latest available developments

Isn't it exciting - you're looking to buy your first home or getting back on the property ladder!

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White Poplars, Malmesbury, Wiltshire

An exciting opportunity to purchase a two bedroom home at White Poplars, Malmesbury

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Birds Marsh View, Chippenham, Wiltshire

Brand new 2 bedroom homes coming soon for shared ownership at Birds Marsh View, Chippenham.

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Hayfield Rise, West Lavington, Wiltshire

Three bedroom shared ownership homes coming soon to West Lavington

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12 hours ago
Selwood Sales

We’ve got four stylish 1-bedroom #sharedownership homes coming soon to the city of #Wells! 🏡 If you’d like to apply, register your interest today to receive an application when we go live 💻 ecs.page.link/bTfCe ... See MoreSee Less

5 days ago
Selwood Sales

We’d love to be helping you on your homeownership journey. Contact the team today to find out how we could help you with #sharedownership.

📞 01225 715846
💻 sales@selwoodhousing.com
Our available homes 🏡: ecs.page.link/28Sxd
#NewHomesWeek
... See MoreSee Less

7 days ago
Selwood Sales

Interested in purchasing a #SharedOwnership home in West Lavington? 🏡 Register your interest today to receive an application pack when we go live with these 3 bedroom homes! 📧 ecs.page.link/GcqSq #NewHomesWeek ... See MoreSee Less

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