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The shared ownership scheme provides a fantastic opportunity for first-time buyers and home movers in Lincoln to step onto the property ladder without purchasing the full property value outright.
Under this government initiative, shared ownership in Lincoln allows buyers to purchase a share of their desired property, typically between 25-75% (sometimes as low as 10%).
Buyers pay rent on the remaining portion to a housing association or property developer in Lincoln.
Over time, buyers can purchase additional shares through a process called staircasing, eventually owning the full property.
This option depends on personal finances and may require further mortgage adjustments. Speaking with a mortgage advisor in Lincoln can clarify these details.
When applying for shared ownership in Lincoln, several criteria must be met. Applicants need to be over 18 and have a household income below £80,000.
It is essential that buyers cannot afford the full deposit or mortgage for the property.
For instance, while a 5% deposit is required for the purchased share, affordability must exclude 5% of the total property value.
Eligibility categories include being a first-time buyer, a previous homeowner unable to purchase again, someone forming a new household, or an existing shared ownership homeowner in Lincoln moving to a new property.
Advisors in Lincoln can assess whether shared ownership or another scheme suits your needs.
Existing homeowners in Lincoln must secure a “sold subject to contract” status on their current property before pursuing shared ownership.
Additionally, they need a “memorandum of sale” confirming the accepted offer and agreed terms.
Shared ownership in Lincoln is available to those over 55 or those requiring disability accommodations, such as accessible homes.
Military personnel and veterans often receive priority for properties under this scheme.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £495.
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Hind
Leo Shakespeare and the admin team from LincolnMoneyman were excellent in securing a mortgage offer for us. I could not recommend them enough. Leo was always punctual with his telephone appointments and never rushed; he took the time to fully...
3 days ago
Gemma
Excellent support, proactive throughout and worked hard to get us the best possible deal. Would definitely recommend.
5 months ago
Ross
Excellent service from Malcolm and the team, they helped us secure a mortgage deal on our dream home.
7 months ago
Mr Graham
Thank you to Lincoln Moneyman. They were very helpful and gave excellent advice at every part of the process.
8 months ago
Stuart
Made transferring my mortgage to a new deal so easy
10 months ago
Kirsty
Really helpful as a first time buyer for advice and guidance. Jason helped me every step of the process and gave me a clear idea of what to expect. Jo was also very quick to get my final mortgage approval sorted, so I can only recommend Lincoln...
10 months ago
William
Great service! Always making remortgage easy while walking me though all of my options in detail.
11 months ago
Alwyn
The service was excellent. Everything was explained clearly and all efforts made to find me the best deal. Friendly and great communication throughout. Thank-you for the help!
11 months ago
Tristan
They have taken on all I could not and more. Very thankful
11 months ago
Samantha
Excellent service, always available when required and made the process hassle free.
1 year ago
Thomas
All of the members of the team I spoke to including Jason and Stacey were fantastic. They answered all my questions and provide support where needed. I would definitely recommend
1 year ago
Anonymous
We reached out to just see where we stood in regards to our borrowing limit and we’ve come out the other end with a mortgage offer and we are going down the route of getting out own home! This never would have been possible without the help of...
1 year ago
Mr Jamie
Daniel was very friendly, knowledgeable and explained everything to us in enough detail without being overwhelming. He gave gentle reminders for things that we had forgotten to do and got us a very good deal for our remortgage. Would highly...
1 year ago
Anonymous
We had a great experience arranging a remortgage with Dinah and Paula. Our situation was a little complicated, but we received very practical advice and they assisted us right through the process. It was all very straightforward in the end. Thank...
2 years ago
Anonymous
Excellent service. Jason has been very helpful and encouraging every step of the way, especially considering our complex circumstances. Easy to set up video calls to discuss matters and email communication has been very quick, detailed and achieved...
2 years ago
Charlotte
Charlie has been nothing but helpful, answers all questions thrown at him, takes the time to explain what everything means which has been hugely helpful as a first time buyer! It’s been a really quick and smooth process from the rest of the team...
2 years ago
Anonymous
Jason and Megan were absolutely brilliant! Both helping me through the entire process.
2 years ago
Hope
Matt & Paula have been so great and efficient in supporting us as first time buyers. Not once did we feel overwhelmed during the process which is great given that we came into this not knowing what to expect. Everything has been quick and efficient,...
2 years ago
Thomas
Matt was incredibly honest and helpful throughout the process even though he was aware I was speaking to a variety of advisors at my point of contact. His knowledge, responsiveness, and willingness to discuss options available to me, made him the...
2 years ago
Hannah
Matt and Stacey were really helpful in sorting our remortgage out. Matt was quick to get back to us when we had questions and Stacey was always on hand as support
2 years ago
During your free initial appointment, out mortgage advisor in Lincoln will evaluate your income and expenditure to determine your eligibility for a Shared Ownership mortgage in Lincoln, as well as assess your mortgage affordability.
Our team will conduct a search of 1000 mortgage products to identify the most suitable option for you.
Once your purchase offer is accepted, we will submit your complete mortgage application and supporting documents to the lender.
Our service extends beyond simply securing the most suitable mortgage deal for you. We also offer recommendations for insurance policies that will protect you and your loved ones.
During your free initial mortgage appointment, a member of our team will explain the scheme to you and help you determine your eligibility.
Our team work hard to provide our customers receive the highest level of customer service. This can be demonstrated in our appointment availability, offering appointments from early until late at night.
Utilising our booking service, you will be able to book a free initial appointment at a time that is most suitable to work around your time frame, subject to availability. Our advisors in Lincoln work from morning until late, 7 days a week, including weekends.
Here at Lincolnmoneyman, we have access to a large panel of high street and specialist lenders. This allows us to tailor our service and find you the most suitable mortgage deal for your circumstances.
Our Home Buying App is a digital mortgage coach designed to help you save up, plan, and track your home buying journey – whether you’re buying your first home, or fancy a move.
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Lincolnmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Lincolnmoneyman 2009–2026
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Lincolnmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Lincolnmoneyman 2009–2026
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