Shared ownership continues to be an increasingly popular method of affordable home ownership, particularly in the current climate where many people are struggling to get together a deposit or save while renting.
As of 2026, research suggests that around 34% of shared ownership purchases were from first-time buyers, nearly double that of those in 2016, where the number sat at just 18%. This highlights the importance of the shared ownership scheme in helping people get on the property ladder at a time when affordability is more stretched than ever.
Likewise, consider that the average monthly cost of a 40% equity share is around £747 in the UK. When we compare this to a full mortgage (£1,089) and private renting (£1,374), it's easy to see why people are choosing the shared ownership route.
It's a fantastic option for many homebuyers but naturally that means there's also many misconceptions around the scheme, which could lead to people not taking advantage.
This is why we're taking the opportunity to debunk some of the more common shared ownership complaints that we see and read about online, especially around the scheme itself and the shared ownership staircasing process.
Common Shared Ownership Myths
If you're thinking about buying a Shared Ownership property but you're still on the fence or have concerns, you might find them below:
Myth #1: “I’ll never actually own my own home”
This is a common misconception that circulates within the market and is often a result of people not understanding the entirety of the process. While the shared ownership process often starts with a buyer owning a percentage of their home, the process of staircasing allows a buyer to purchase a larger share of the property.
By taking advantage of staircasing, homebuyers can staircase up to own 100% of their property, buying more shares in chunks. The best part is, this staircasing process is flexible, meaning you can buy more shares as and when you feel comfortable.
The important thing to remember is that during the staircasing process, there are associated costs, so typically you'll want to make sure that you have the financials in place to move up to the next stage of ownership.
Myth #2: “It’s really difficult to get a shared ownership mortgage”
Although not all lenders can provide mortgages for Shared Ownership, the majority do, especially as the scheme grows in popularity.
Fortunately, shared ownership mortgage lending is also based on a similar affordability check to that of a traditional mortgage. This means you’re evaluated based on your income, outgoings, credit rating and deposit.
Increasingly, getting a shared ownership mortgage is not much more difficult than buying a property through traditional means. If you want to know what your mortgage might look like, you can find our shared ownership mortgage calculator here.
Myth #3: “I can’t decorate my home or make the space my own”
This is not true. As the homeowner, you’re free to decorate your home and make the space your own so that you feel comfortable.
In the vast majority of cases, you can do significantly more to a shared ownership property than you would be able to with a rented property, including painting, hanging pictures and installing next fixtures such as curtain rails, blinds and other elements.
While larger projects, such as renovations, may require permission, it’s always something you can talk through with us.
Shared ownership is designed to provide you with the opportunity to get on the property ladder, which means all of the benefits that come with that, such as redecorating.
Myth #4: “I’ll end up paying more in shared ownership than renting”
A common misconception is that because you’re paying both mortgage payments and rent, it’s cheaper to privately rent and save up for buying outright.
In many cases, this is incorrect. When you buy with Shared Ownership, you only pay a mortgage on the percentage share of the property you own and then a below-market-value rent on the remainder. This generally means that your monthly outgoings are much lower than if you were to privately rent.
Our recent piece around long-term affordability reinforces this, with research suggesting that shared ownership is more affordable than privately renting across 93% of local authorities over a 10-year period.
It’s important to also remember that as you increase the share you own in the property, your mortgage payments may go up but your rent will decrease. When you consider the rate at which rental prices are increasing, this is often a cheaper overall outlay, particularly if you’re buying near larger cities where rental prices are higher.
Myth #5: “I won’t be able to get a deposit for shared ownership if I can’t buy a house outright”
While at first, this seems logical, the situation is very different once you start to consider the numbers. If you’re buying a home outright, you generally need a deposit based on the entire purchase price of the property. If you’re buying a shared ownership property, you only need a deposit based on the share you’re purchasing.
For example, if you’re buying a 25% share of a home worth £300,000, which is £75,000, a 5% deposit on this share would only be £3,750. This is much more accessible for many people than raising a deposit against the full market value of a property.
Myth #6: "Shared ownership means I have to share my home with someone"
The 'shared' in shared ownership doesn't refer to another buyer but in fact refers to the fact you're sharing the property with us, the housing association.
As with a traditional property, you don't have to buy or live in your property with anyone that you don't want to, you're simply buying a share of the property and paying a mortgage on the share that you own and below-market rent on the share that you don't.
Myth #7: "Shared ownership is only for first-time buyers"
While shared ownership is ideal for first-time buyers, it's not exclusively for them.
Provided you meet shared ownership eligibility, and you don't own another property, the shared ownership scheme is available for you.
This means it's ideal if you're looking to scale up to your family home in a dream destination or downsizing to a more manageable property.
Myth #8: "Repairs are an issue in a shared ownership property"
Again, another shared ownership complaint that has been commonly mentioned in the media is issues around repairs in a shared ownership property. Under the new shared ownership model which we've adopted at Platform, shared owners are able to claim £500 per year, for the first 10 years, against a variety of repairs including leaks, loss of hot water and other related issues.
If you don't claim in a year, this £500 carries over to the next year where it can be further utilised. You can learn more about the repairs structure within the new model in our video here.
Shared ownership is an affordable option for many homebuyers that would otherwise be stuck privately renting, at a time when rents are rising to unprecedented levels.
If you want to take a look at the shared ownership properties we have available, you can do so here.
