Shared ownership- not aibu but posting for traffic

[FacingDivorceButSad]

I am prepping my house for sale as we're getting divorced. My income and equity in the house means I won't be able to afford to buy my own place in the area I live in unless I consider shared ownership.

I have seen a property £315000 with 40% ownership. can anyone give me an indication of how much rent I would be likely to pay on the 60%? there are details of yearly service charge but rent tbc. I know it can't be 100% accurate but if anyone has any clue with how this works I would be grateful to hear from you

Hi, not an expert but if you go here https://www.gov.uk/shared-ownership-scheme and click on the rent section it gives you figures on how the rent element is calculated.

Hope that helps

Thank you. I must have clicked the wrong link as all I got on gov.uk website was some waffle about how the index they ise to determine rent is out of date and from 2023 its changed. This is really helpful

£315000 x 60% = £189,000 x 2.75% = £5197.50÷12 months = £433.13 per month
The 60% of the purchase price is the equity retained by the housing association. The housing association is then permitted to charge you 2.75% of the retained equity which, in this case is the £433.13 per month.

Also, the rent, service charge ( if any ) and mortgage payments taken together cannot be above 40% ( current rates ) of your net salary