Housing schemes

Please note: The Land Registry must show the legal owner of the security property to be the Shared Ownership provider. A case will not be able to complete unless this is the case.

Shared Ownership is where your clients can buy a share of a home (minimum of 25% of the home's value) and usually pay rent for the remaining share. This could be an option to get on the property ladder if they can't afford to buy a property another way. They could buy a larger share later at a price based on the value of the property at the time, this is called ‘staircasing’.

• In England, Wales and Northern Ireland they'll own their share as Leasehold under the terms of a Shared Ownership lease.
• In Scotland, they'll enter into an Occupancy Agreement with the Housing Association who owns the remaining interest, to allow them to occupy the whole property and pay an Occupancy Payment. Instructions to the conveyancer are contained within the special conditions of the mortgage offer.

We calculate the LTV based on your client's share only.

LTV limits

At Nationwide, we're proud to support the Shared Ownership scheme

• Shared Ownership mortgages are available on all our standard products. You can find our rates on our product finder.
• We accept most builder incentives, including legal fees, stamp duty, homemover schemes, soft furnishings and white goods. See our New Build incentives for more details.

We help your clients to own their own homes

Your remortgage clients can capital raise up to 85% LTV to buy an additional share or the final share of their Shared Ownership property. This helps your clients on the road to full home ownership.

Before applying with Nationwide, don't forget:

• You should include the Shared Ownership rent as a monthly outgoing when doing an affordability calculation.
• The solicitor or conveyancer must confirm that the Shared Ownership lease meets our requirements.
• We won’t lend where the purchase is also under any of the following schemes:
• Resale Price Covenant Scheme or Restrictive Covenants
• Equity loan
• Sheltered Housing
• Right to Buy

How to key a Shared Ownership case

You can submit a case on NFI Online, please ensure you select ‘Shared Ownership’ (even if the final share is being purchased).

Submit a case on NFI Online

This scheme helps armed forces personnel get on the property ladder by enabling them to borrow up to 50% of their salary to go towards a deposit to buy their first home or move to another property, depending on assignments and family circumstances. This is all interest free.

All service personnel can borrow up to £25,000, which can be used towards a deposit of a new home or solicitors and agent fees. The loan is paid back over ten years through their monthly salary.

All regular service personnel can use the scheme, who:

• have completed the pre-requisite length of service
• have more than six months left to serve at the time they apply
• meet the right medical categories.

At Nationwide, we're proud to support our armed forces with this scheme

• If both applicants are in the armed forces, we’ll accept Forces Help to Buy loans as deposit from both of them for the application.
• Forces Help to Buy can also be used in addition to Shared Ownership and Help to Buy: Equity Loan schemes – both supported by Nationwide. Remember, the loan doesn’t count towards the minimum deposit requirements.
• To help submit your client’s Forces Help to Buy application, we’ve created a keying guide to guide you through the process.

Forces Help to Buy keying guide

Before applying with Nationwide, don't forget:

• Your client should apply for a Forces Help to Buy loan before applying for a mortgage. If they’re accepted, they’ll be given a personal information note (PIN) by the MOD with details of the loan.
• When doing an affordability calculation, the monthly repayment of the loan (and the mandatory insurance payment) must be included as a monthly outgoing.
• We won’t lend where the purchase is also under any of the following schemes:
• Genuine Bargain Price
• Lending on negative Equity
• Restricted Resale Price
• Right to Buy

Read our full Forces Help to Buy criteria

How to key a Forces Help to Buy loan

You can submit a case on NFI Online, please read our keying guide for more information.

We'll only accept the following types of equity share loan:

*Up to maximum of 50%. Please check specific details of the scheme due to regional variations.

Read our full Help to Buy: Equity Loan criteria