Shared Ownership, in plain numbers
Part-buy, part-rent gets you onto the ladder with a smaller deposit — but the monthly cost is three things at once: a mortgage on your share, rent on the bit you don't own, and the service charge. This adds them up honestly, shows what your deposit really has to cover, and works out what buying a bigger share later (staircasing) would cost. Free, no sign-up.
Rent rate — the standard 2.75% a year, change if your scheme differs
A guide, not financial advice. The rent figure uses the percentage you set (the scheme standard is 2.75% a year of the share you don't own) and the mortgage is a standard repayment on your share. It leaves out council tax, utilities and ground rent (you pay those on any home). The rent and service charge typically rise each year — see the notes below. Check the exact figures on the listing and the lease, and speak to a Shared Ownership mortgage adviser before committing. Nothing you type here leaves your browser.
A smaller deposit, but more moving parts.
You pay rent on the part you don't own. That's the trade-off that gets you in with a small deposit — and it's the bit generic mortgage calculators miss. Buy a 40% share of a £300,000 home and you're renting the other £180,000 from the housing association, usually at 2.75% a year. Your "monthly cost" is the mortgage plus that rent plus the service charge, all together.
The rent and service charge go up. Shared Ownership rent usually rises every year — older leases by RPI + 0.5%, newer ones (since April 2023) by CPI + 1%. The service charge can move too. So the figure here is today's cost, not a fixed one; build in that it climbs.
You're often responsible for 100% of repairs. Even though you only part-own, most Shared Ownership leases make you liable for all internal repairs and maintenance — not just your share. Newer leases include a 10-year window with some repair costs covered, but don't assume it. Budget like an owner, not a tenant.
Staircasing lets you buy more. You can buy extra shares over time — "staircasing" — at the share's market value when you buy it, which cuts the rent you pay. The calculator shows what each extra 10% would cost at today's value. Each purchase has its own valuation and legal fees, so it pays to do it in larger steps.
Selling has rules. When you come to sell, the housing association usually gets a nomination period (often 4–8 weeks) to find a buyer first, and you sell at an independent valuation. It can take longer than an ordinary sale — worth knowing before you buy.
Your home, properly organised.
Once you're in, Stead keeps the whole home in one place — the mortgage, rent and service charge, the lease and certificates, the renewals and the jobs that need doing — and tracks the running costs and the value over time so you always know where you stand.