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
The main Disadvantages of Shared Ownership for Foreign Nationals on a Visa
Where do I find Shared Ownership homes?
You can search for available Shared Ownership properties in the area you wish to buy by visiting:
What are the qualification rules for the Shared Ownership Mortgage for Foreign Nationals
Shared Ownership for Foreign Nationals on a Visa Current Interest Rates: £300,000 property with just a £3,750 deposit
Important Information
Rates current as at 23/7/2024. The overall cost for comparison is based on an open market value of £300,000. 25% share purchased at £75,000. 5% deposit which is £3,750. Buying a house. Repayment mortgage over a 25 year term. Eligibility will depend on your own personal circumstances.
More information about The Shared Ownership Scheme can be found on the government website. Click here.
Check out more information on Mortgage on the Niche Youtube Channel
Published 24 July 2024 · Last reviewed 1 May 2026
- Lower deposit entry.
- Full use of the property.
- You’ll benefit from any capital growth in your property over time.
- 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.
- Your local estate agent.
- Housing association websites.
- Property developer websites.
- Property portals like Rightmove, Zoopla, and OnTheMarket.
- 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!
| Mortgage Details | 2 Year Fix | 5 Year Fix |
| Initial rate (fixed) | 6.20% | 5.95% |
| Subsequent rate (variable) | 7.10% until 31/10/2029 | 7.60% |
| Reversionary rate (standard variable) | 7.60% | 7.60% |
| The overall cost of comparison (APRC) | 7.5% | 7.2% |
| Total amount you must pay back (including the amount borrowed) | £156,060.24 | £152,624.76 |
| Minimum deposit on the share purchased | 5% | 5% |
| Valuation fee | Free | Free |
| Booking fee | £Nil | £Nil |
| Product fee | £Nil | £Nil |
| Telegraphic transfer / CHAPS fee | £8 | £8 |
| Lender Legal fee charged to your solicitor | £150 | £150 |
| Main early repayment charge | 2/1.5% in the fixed period | 5/5/3/3/1% in the fixed period |