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Shared Ownership

Shared Ownership for Foreign Nationals with a 5% deposit

Payam Azadi Director – Specialist Finance Expert · 4 min read
Shared Ownership for Foreign Nationals with a 5% deposit

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Published 24 July 2024 · Last reviewed 1 May 2026

If you can’t buy a property outright, talk to our Expert brokers dealing with Shared Ownership Mortgages for Foreign Nationals

At Niche Advice, we can secure a Shared Ownership Mortgage for Foreign Nationals living and working in the UK on a Visa, even if you only have a 5% deposit. Shared ownership schemes allow you to buy with a third party, normally the developer or a housing association. You have complete use of the property but start off as a joint owner. The trade-off is you pay a rent on the share you do not own.

For example:

You see a shared ownership property in London you like worth £400,000. You decide to purchase an initial 25% share i.e. £100,000. You take a 95% mortgage, so need to put down just £5,000 as a deposit.

If you bought the same priced property in the normal way the 5% deposit would equate to £20,000 -so you can see stark the difference!


Main Advantages of Shared Ownership Mortgage for Foreign Nationals

  • Lower deposit entry.
  • Full use of the property.
  • You’ll benefit from any capital growth in your property over time.


The main Disadvantages of Shared Ownership for Foreign Nationals on a Visa

  • Rent is payable on the share that is not owned.
  • You may be restricted on alterations you can make to your property.
  • Most schemes allow you to increase your share in the property but not all of them so you need to check the details.
  • Service charges can be high on leasehold properties.
  • If you earn over a certain amount you may not qualify for the scheme.


Where do I find Shared Ownership homes?

You can search for available Shared Ownership properties in the area you wish to buy by visiting:

  • Your local estate agent.
  • Housing association websites.
  • Property developer websites.
  • Property portals like Rightmove, Zoopla, and OnTheMarket.


What are the qualification rules for the Shared Ownership Mortgage for Foreign Nationals

  • First time buyers or homemovers.
  • Minimum 5% deposit on houses. 10% on flats.
  • New build accepted.
  • You must have been in the UK for a minimum of 2 years.
  • Have 12 months remaining on your Visa at the time of application.
  • Minimum age 18 years.
  • Employed in your current job for at least 1 full month.
  • Self employed 2 years trading history.
  • Paying UK tax on income.
  • Gifts of deposit considered from immediate family, including those from abroad.
  • Capital and interest repayment mortgages only.
  • Not open to applicants on Refugee Visas.
  • Although there are no set rules it is highly likely that you will need to earn at least £30,000 as you have to cover the rent on the share of the property you do not own.
  • The Lender’s will only lend 20% of the properties in any one development – so you need to get in quick!

Shared Ownership for Foreign Nationals on a Visa Current Interest Rates: £300,000 property with just a £3,750 deposit

More information about The Shared Ownership Scheme can be found on the government website. Click here.

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