Expert Advice On Shared Ownership Bad Credit Mortgages & Best Deals For You

We’ve helped over 10,000 people find their mortgage. We’re good at it! Enquire for FREE, no-obligation advice & quotes. No initial credit check.

Expert service

Highly Rated

No credit search conducted

Working with leading lenders ...

We work with high street and other lenders so you’ll get access to some the best deals that you may be able to apply for.

About us

Satisfaction guaranteed

Whether you’re looking for Mortgage Advice, Loan Advice or Insurance Advice or any other financial product or service, we can help you…

“Did a great job helping us with our mortgage. I would recommend!”

Rob Searcy

So ... how can we help?

Buying a financial product such as a mortgage can be the biggest decision made in our lives. It is for this reason that impartial advice is critical from qualified advisors.

Shared ownership mortgage bad credit

Getting onto the property ladder has become more difficult over the years, especially following the banking crisis of 2008, with lenders more reluctant to offer mortgage deals unless borrowers met quite strict criteria. The government has recognised the struggles that many people face when trying to buy their own home and have introduced a range of schemes to help alleviate the problem. 

One of these schemes has been in existence for a good few years now, this being shared ownership, which could be a viable option if you have bad credit. If you’re looking for more advice about shared ownership, bad credit mortgages, or mortgages in general, contact our team at Finance Advice Centre. Our specialist advisers will help to find the best deals and provide tailored advice that suit your personal circumstances.

Our approach - and how we do it


We love speaking with our clients. Either give us a call or fill in one of our contact forms. Remember, we love a challenge!


One of our advisors will then find out what you’re looking to do, discuss your options and answer any questions you may have.


Your advisor will find the best option for you and help arrange things. You then sit back and relax while we do the rest.

Why use us?

From the information you provide to us, our experts will search the market and find the most suitable products for you – even if you have bad credit! If you are happy with the product on offer, we will handle all the necessary paperwork for you, including any relevant applications, to ensure that everything runs smoothly for you.

Quick service

From just a few minutes completing some basic information, we will quickly search for suitable financial products for you.

Expert advice

We’ve helped thousands of customers secure financial products and service so you know that you are in capable hands.

Reduced stress & time saving

Choosing the right financial product is time consuming and can be stressful, so remove much of this by putting it in the hands of one of our financial experts.

Reliable service

Whatever type of financial product or service you are looking for, our service is reliable and always matched to your own personal circumstances.

What is shared ownership?

The shared ownership scheme allows people, who might not have been able to afford a mortgage to purchase a whole property or have an acceptable size deposit, to buy into a shared one. The share you can buy is typically a quarter, a half, or three-quarters, and the rest of the balance is owned by a government-backed housing association. The borrower then pays rent to the housing association for the share they have not bought.

If you have bought a 25% share for example, and your financial circumstances change so that you can afford a bigger mortgage, then you can increase your share at a later date to 50% or 75%, or with some schemes you can get to 100% and full ownership. The rent you pay will decrease in line with the reduced share of the property that is owned by the housing association.

Can you get a shared ownership mortgage?

This will very much depend on your situation. As house prices around the country have been rising, the government created the scheme to help people in specific circumstances to buy a home. These circumstances include:

  • First-time buyers
  • People who have an existing mortgage as part of the shared ownership scheme that are looking to move
  • Those who have owned a property in the past but don’t own one at the moment and cannot afford to take on a full mortgage outright
  • People who have less than £80,000 (£90,000 in London) coming into the household as a combined annual income (regardless of whether they fit into the other categories)

If you meet one or more of the criteria above you could be eligible for a shared ownership mortgage. However, it is important to keep in mind that as well as paying the instalments on the mortgage, you need to be able to afford to pay rent on the shared part of the property.

The scheme is a useful way to get your foot in the door of the property market. If you want to find a new mortgage that will give you a share in your home, it is worth contacting our team. Our expert advisers will be able to go through all options with you and explain the process if shared ownership is considered the best option for your circumstances.

image showing a house and keys for adverse mortgages

Can you get a shared ownership mortgage with bad credit?

Borrowers with bad credit history can sometimes find it more difficult to secure a shared ownership mortgage. Negative events in your credit, like missed credit card or loan repayments, County Court Judgements (CCJs), or a previous bankruptcy, can be a red flag for a lot of lenders. A serious problem in the past that has affected your credit could mean some lenders see your involvement in a shared ownership mortgage as more of a risk than they are prepared to accept.

However, whilst having bad credit history could rule you out of some mortgage options and restrict your choice of lender, it doesn’t mean it is impossible for you to get a bad credit mortgage. Over the last few years, as more new ‘specialist’ lenders have entered the market, often catering to the needs that mainstream lenders won’t consider, there will be products available that can help you get a shared ownership mortgage with bad credit.

If you have a recent history of bad credit or more serious adverse credit issues e.g. a previous property repossession or a bankruptcy, lenders might require you to put down a higher deposit of 15% or maybe more to secure your loan. Also, it is likely you will be charged a high interest rate on the mortgage. When balancing this out though with your current financial situation a shared ownership mortgage might be the best way, or the only way, for you to purchase a property.

The most important thing you will need to prove to a lender is that you can afford the mortgage and rent on the property. To give yourself a better idea of where you stand and to ensure the details on your credit report are correct, it is advisable to get a copy of your credit report from a UK credit reference agency.

Speaking to an experienced mortgage adviser, like our team at Finance Advice Centre, will help you get all the information you need to give you the best chance of your mortgage application being accepted. 

As a mortgage is secured against your property, it may be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home. 

See what our customers think ...

What a Fantastic Service from start to finish. Great customer support from Ben Patten & Joe Frayne, superb product knowledge and exceptionally responsive to emails/calls, we can 100% recommend the Finance Advice Centre Ltd , they got us a great deal on a mortgage with suited life insurance, especially during this very difficult Covid 19 time ……

Ian Stamp

From start to finish, Greig and Emily were very helpful with our mortgage application. The advice Greig gave us was very clear and informed. They were always available either by phone or email to answer any questions we had. The whole process was made a lot easier because of the work they did. Would thoroughly recommend

Ross Nightingale

Let us do the work of finding your mortgage

We’ll put you in touch with impartial advice from an expert mortgage advisor who will help secure you the best mortgage deals available.