Yes, you can buy a shared ownership property without a mortgage. There is no requirement that you use a shared ownership mortgage to buy a shared ownership property.

If you have the cash amount readily available then you can use cash to buy a shared ownership Mortgage.

The shared ownership scheme is a first-time buyer scheme provided by the Government to help you get on the property ladder quicker. With shared ownership properties you will essentially own part of the home and pay rent on the side you don’t own.

  • To have an annual maximum household income of £80,000 outside London
  • To have an annual income of £90,000 in London
  • To have a monthly income which is at least 65% more than the monthly cost of the shared ownership property you intend to purchase. This, of course, depends on the price of the property and how much you want to purchase(which will directly affect the rent you pay)
John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.