What deposit do I need?

Q: What deposit do I need?

It gets better. You only need a 5% deposit of the share that you own. So, if you were to buy a 25% share in a £300,000 property (which would be £75,000), then your deposit would be just £3,750. If you buy more than a 25% the deposit is still just 5%.

It gets better. You usually only need a 5% deposit based on the share that you buy. So, if you were to buy a 25% share in a £300,000 property (which would be £75,000), then your deposit would be just £3,750. It is that simple.

Sounds too good to be true? Read through our how does shared ownership work guide to find out how shared ownership works and how it can work for you.

At Aster we provide shared ownership properties for families, couples, and more, across the South of England and London, so why not take a look at some of the shared ownership homes available through the shared ownership scheme we have on sale right now, you may find something you love!

Still unsure? Hopefully, this has given you the information needed around what deposit you need, but we also have a range of FAQs that should answer any additional questions you may have or feel free to get in touch to find out more about specific properties.

We also have a guide on Associated costs when buying a shared ownership home, this looks at other costs to factor in when considering purchasing a shared ownership property.

You can also read through other buyers shared ownership journeys on our blog to understand how the process worked for them, as well as money-saving tips, home inspiration and more!

What is shared ownership?

Let’s face it, getting on the property ladder isn’t getting any easier is it? Saving for a large deposit and even getting accepted for a mortgage that’s enough to buy the home you want could be pie in the sky, right? Enter - shared ownership, the property ladder buying solution. You find a home with a shared ownership purchase option and you buy a share (from 10% to 75% depending on your affordability and the terms of your lease) and pay Aster rent on the remaining bit. And when you’re able to do so, you can buy more shares (called staircasing) eventually leading to outright home ownership (in most cases, just ask our team first). So, you get the home that you want, in the area you love, through a repayment that’s achievable.

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What is Shared Ownership?

what is shared ownership