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Shared ownership one of few winners in ‘new normal’

1 October, 2020

Shared Ownership is one of the few winners to come out of what has been an extremely challenging year for all those involved in retail financial services, according to a new report by award-winning mortgage broker Censeo Financial.

Their latest Mortgage Insight analyses the effects the Coronavirus has had on the Shared Ownership property market, how Lenders have reacted to the pandemic and what challenges lay ahead in the next six months.

Says Censeo Founder Rupi Hunjan: “On the positive side, we have seen interest rates reduced to a record low, a Stamp Duty holiday and an incredibly busy late summer selling season. Demand is still high, particularly homes with some form of outdoor space.

This activity and demand means that in many areas house prices are continuing to rise and the good news is that this is likely to be sustained for the foreseeable future.”

However, the report also looks at some potential problem areas over the next six months. UK unemployment is already on the increase, inflation is on the up and GDP is down by 20%.

At the same time, while the demand is undoubtedly there (mostly driven by existing home-owners purchasing new properties), the total number of actual first-time buyers has fallen to a seven-year low in 2020.

In addition, Lenders have become much more risk averse and have withdrawn many of the higher LTV products, making it more expensive to finance buying a home.

That said, Rupi explains that Shared Ownership is still a thriving sector of the property market.

“Compared to outright ownership, purchasers are only buying a proportion of a home, so even a 20% or 25% deposit is a realistic proposition.

“Plus, the announcement this month by Housing Minister Robert Jenrick that the minimum initial share in a property could fall to just 10%, means that Shared Ownership has become an even more viable proposition for thousands of first-time buyers.”

To obtain a copy of the report plus a full table showing the latest lending criteria and rates, email Or call Rupi Hunjan on 0207 090 7290 to discuss these findings in more detail.

Should you click on any of the links above, you will leave the regulatory site of Censeo. Neither Censeo nor Primis is responsible for the accuracy of information contained within the linked site.

Censeo Limited is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading name of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority for mortgages, protection insurance and general insurance products. Censeo Limited is registered in England and Wales, company registration number 06453977, the Registered Address 11b Newton Court, Pendeford Business Park, Wolverhampton, WV9 5HB.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.

The Financial Conduct Authority does not regulate all Buy to Let mortgages.

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