Shared Ownership Full Financial Assessment

Complete the assessment before you move forward.

Buying a shared ownership home is exciting, but your housing association will need to confirm that the home, the share, and the monthly costs are affordable for you.

That is where SRC comes in. SRC Mortgage Solutions works with housing associations to carry out financial assessments for people applying for shared ownership homes.

The role is to help check that the property, the share you are buying, and the monthly costs are affordable and suitable for your circumstances, with a clear and supportive process from start to finish.

Start Initial Assessment Panel Housing Associations

Main next step

Use the assessment form first.

Why it matters

Shared ownership affordability looks beyond the mortgage. The property, the share, rent, service charge, household bills, credit commitments, and everyday spending all need to be considered properly.

Not a mortgage offer Important first step Supports housing association checks Helps clarify next steps

How the assessment works

Two stages, one clear process.

The assessment helps confirm whether shared ownership may be affordable now and whether the allocated property is sustainable for your circumstances.

Stage 1

Initial assessment

The first step is a quick initial assessment using the online form. It helps SRC understand your basic financial position before you are allocated a specific property.

This stage gives an early indication of whether shared ownership may be affordable and helps your housing association understand whether you are ready to move forward. It is not a mortgage offer or a full mortgage recommendation, but it is an important first step in the process.

Income and savings

Deposit position

Household details

Regular commitments

Stage 2

Full financial assessment

Once you have been allocated a property, SRC completes a more detailed financial assessment using the actual property costs.

SRC will also review your income, deposit, credit commitments and monthly spending to make sure the purchase looks affordable and sustainable.

Property value and share

Estimated mortgage payment

Rent on remaining share

Service charge and household costs

What SRC reviews

The full monthly picture.

At the full assessment stage, SRC looks at the actual property costs and your wider financial position. The aim is simple: to help make sure you are not taking on a home that could put you under financial pressure.

Complete Assessment Form

Property price

The full price of the property and the share being purchased.

Mortgage payment

The estimated mortgage payment for the share you are buying.

Rent

Rent on the share retained by the housing association.

Service charge

Service charge and any other regular property costs.

Credit commitments

Loans, credit cards and regular commitments that affect affordability.

Monthly spending

Household bills, insurance, everyday costs, and sustainable budgeting.

Why this matters

Shared ownership is still a serious financial commitment.

The assessment helps make sure the mortgage, rent, service charge, household bills, insurance, and living costs have all been considered before you move forward.

Mortgage plus rent

Shared ownership still involves important financial responsibilities. As well as your mortgage, you may also pay rent on the remaining share.

Service charge and bills

Service charge, household bills, insurance and other living costs need to be considered before you commit to buying.

Responsible allocation

The assessment helps the housing association confirm that the property is being offered responsibly and that the share is right for you.

Confidence before moving forward

The goal is to make the process clear, smooth and supportive so you understand what the outcome means.

Documents

What you may need to provide.

SRC will confirm the exact documents needed based on your circumstances, but these are common items requested for a full assessment.

Proof of Identification and Address

Recent payslips

Bank statements

Evidence of deposit

Full credit report

Loan, credit card, and commitment details

Proof of benefits or additional income where applicable

Self-employed income documents where applicable

As part of the full financial assessment, we will also undertake the necessary anti-money laundering and source of funds checks.

What happens next?

Start with the initial assessment form.

Once SRC has completed your assessment, the outcome and next steps can be explained clearly. If everything looks affordable, you can continue with your shared ownership purchase.

If there are any issues, SRC will explain them clearly so you understand what they mean and what your options may be. The goal is to make the process as smooth and stress-free as possible, giving you confidence before you take the next step towards your new home.

Start Assessment