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Shared ownership is a practical way for first-time buyers and home movers in Sheffield to join the property ladder without purchasing the full value of a property.
The scheme, backed by the government, allows buyers in Sheffield to purchase between 25-75% of a property, or in some cases, as low as 10%.
Buyers pay rent on the remaining portion to a housing association or developer, who retains ownership of that share.
Staircasing, a process where additional shares are purchased over time, eventually enables full ownership.
A mortgage broker in Sheffield can explain how staircasing works and help you plan accordingly.
To qualify for shared ownership in Sheffield, applicants must meet specific criteria. They must be over 18 and have a household income below £80,000.
The scheme is designed for those unable to afford a full deposit or mortgage payments for the entire property.
Applicants should meet one of these conditions: being a first-time buyer, a previous homeowner unable to buy again, or someone forming a new household.
Additionally, existing shared ownership homeowners wishing to move or those needing properties suited to specific needs may also apply.
A mortgage advisor in Sheffield can assess eligibility and offer alternatives if necessary.
Current homeowners in Sheffield must have a “sold subject to contract” (STC) status for their existing property before completing a shared ownership application.
A memorandum of sale confirming the price and agreement to sell is also required.
Shared ownership schemes in Sheffield accommodate buyers over 55 and those with disabilities needing specialised housing.
Priority is often given to current or former members of the armed forces.
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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Joao
Very professional, efficient, knowledgeable, and responsive team of people. They were very quick at replying to our emails, and it was very helpful to meet them regularly over video call to discuss all the pros and cons of each decision.
3 weeks ago
Lauren
Super fast replies. So helpful. We’re really great full for the help Jason have us!
3 months ago
David
This was a fantastic service that helped with what ended up being quite a complicated mortgage. The communication and support provided throughout was first class, I’ll use them again without question. Thank you.
4 months ago
Rafa
My journey getting a mortgage with Moneyman was amazing. Starting with Dinah how she was listening to me and understanding im new to everything ending to advice me what to use to request mortgage. Then reaching to the best ever Stacey Moss and how...
5 months ago
Ami
Malcolm and his team have been great from start to finish. We’ve had weekend appointments and updates after the usual working hours which has been really appreciated and helped make the process of finding and securing a mortgage offer a lot less...
5 months ago
Stuart
Needed mortgage advise as a 50+ and thought it might be more difficult than it turned out thanks to Charlie. Questions answered in a timely fashion. Explanations easy to understood and with time to think.
6 months ago
Anonymous
Very helpful and they are with you every step of the way. Always there to answer any questions, which I had a few due to being a first time buyer. Amazing!
6 months ago
Rhoda
such a good complanythay is next to none. Staff are good as gold with a high level of professionalism. It will be worth mentioning that Jason Loft and LIzzi Roscoe worked so hard to help me achieve my dream of getting on to the property ladder....
7 months ago
Gemma
Efficient and helpful.
9 months ago
Rachel
The service we received from both Jason and Stacey has been excellent. We had quite long and stressful process from when we applied for our mortgage to getting our offer. In that time, both worked hard to get the application progressing as it should...
9 months ago
A
Fantastic service and clear explanations of all our options. Wayne has been a huge help in the process.
10 months ago
Marta
I had the pleasure of working with Jason from Sheffield Money Man, and I couldn't be more impressed with the experience. From the very beginning, Jason was incredibly professional, knowledgeable, and patient. They took the time to explain every step...
11 months ago
Abigail
very knowledgeable, everything explained very clearly. something that sempt complicated to me was made very simple and straight forward.
11 months ago
Paul
Great service from start to finish always at hand if needed and quick response Thanks guys
11 months ago
Craig
This company has been absolutely fantastic to work with. I was let down by my own bank when needing a mortgage. Sheffieldmoneyman helped me get a an excellent mortgage deal with cash back! My fixed rate mortgage is due to finish and they have been...
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Michael
Always happy to renew with MoneyMan, fast and efficient
1 year ago
Benjamin
Fantastic team, we have brokered our original mortgage through them and our remortgage. Both times the team were eager to help and ensure we got the best deal for us. Special shout out to Daniel who just did out remortgage and was very...
1 year ago
Kieran
Massive help. Charlie went above and beyond. Would highly recommend
1 year ago
Darren
Would definitely recommend Sheffield Moneyman. Took all the stress out of getting the right mortgage. Will use again when my fixed rate ends.
1 year ago
Anonymous
This is the 3rd time I've used Sheffield Moneyman & I've not been disappointed.
1 year ago
During your free initial appointment with a mortgage advisor in Sheffield, they will evaluate your income and expenditure to determine your eligibility for a Shared Ownership mortgage in Sheffield, 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.
Our experience in the mortgage industry has allowed us to help a variety of applicants to start their Shared Ownership journey. Your free initial appointment with one of our advisors in Sheffield will include a thorough explanation about the scheme and see if you are eligible for the scheme.
We will be by your side throughout the mortgage process with your dedicated Shared Ownership Mortgage Advisor being there to answer any questions you may have.
Our brilliant customer reviews show how important it is for us to provide a 5 star service! Check out the customer reviews we have received to see how others have found our service.
We understand all our customers are different in what they are looking for as well as their lifestyle. This is why we are available at flexible operating hours to fit around you.
This means you can book a free initial mortgage appointment with a Mortgage Advisor in Sheffield during the evening or on weekends.
Along with this, you can book whenever is best for you online. Our online booking system means you can find a time and date for your free initial mortgage appointment. We have appointments available 7 days a week.
Booking is easy! Simply follow our ‘Get Started’ process to choose the date and time best for you.
We have connections with a range of lenders all providing different products. This allows us to look at both high street and specialist lenders. Our team can find you the product that is appropriate for your circumstance.
With many years of industry experience under their belt, our Mortgage Advisors in Sheffield have experienced different kinds of mortgage situations. Therefore, don’t hesitate to get in touch if you feel your situation is complicated, it’s very likely we have encountered it before!
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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Sheffieldmoneyman 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.
© Sheffieldmoneyman 2009–2026
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Sheffieldmoneyman 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.
© Sheffieldmoneyman 2009–2026
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