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Shared Equity

If you can't quite afford the mortgage on 100 percent of a home, The Broadgate Homes Shared Equity product offers you the chance to have a mortgage for less than the full purchase price of the property, whilst becoming the legal owner of 100 percent of your home through an equity loan. The loan can be between 25 and 50 percent of the value of the property.

How shared equity works

You purchase a property with a mortgage of 50 to 75 percent and an equity loan makes up the difference. For the first three years the equity loan is charged at an interest rate of 2 percent below Bank of England Base Rate. From the third year onwards, the loan is charged at Base Rate. Interest is collected on a monthly basis by direct debit. The equity share of the property is not revalued at any point during the term of your ownership.

Using an example of estimated monthly costs (after three years) for purchasing a 50 percent share (estimated in December 2019), you could expect to pay around £416 a month, as detailed below:

Payment Examples
Open Market Price£150,000
Share Value£75,000
Deposit Required£7,500
Equity Loan Value£75,000
Monthly interest£46.88
Estimated mortgage per month£370
Estimated monthly cost£416.88                    

Shared equity eligibility

You may be eligible for the shared equity product, if you:

  • lack your own housing or live in housing which is inadequate or unsuitable to meet your existing or future requirements, or
  • are living in social rented housing and wish to own your own home
  • can't afford to buy on the open market
  • have a local connection to the South Holland District.

Apply for shared equity

We assess all shared equity applications. To apply, please download and complete the Icon for pdf Low Cost Market Housing / Shared Equity Housing application form [273.87KB] and return it to

We have been notified of a current re-sale of a 2 bedroom terraced house at The Hayfields in Spalding.