Older Persons Shared Ownership scheme (OPSO)

Older Persons Shared Ownership scheme (OPSO)admin2019-09-30T11:58:52+00:00

People aged 55 or over can buy into a special older Persons Shared Ownership scheme (OPSO) which is aimed at people approaching retirement age.

This scheme is based on the Shared Ownership scheme and the buyer uses a mortgage or savings to buy shares of 25% – 75% of the home. They then pay rent on the remaining percentage that the housing association owns.

Just as with the Shared Ownership scheme, the buyer can purchase more shares in the property through ‘staircasing‘. The difference between OPSO and the normal Shared Ownership scheme is that once the buyer owns 75% of the property, they cannot purchase any more shares. However, they will also no longer have to pay any rent while living at the property from then on.

Mortgage Calculator

Equity Loan Mortgage Calculator

Whether you're a first-time buyer or already a property owner you could buy a new home with a small deposit of 5%, heres how.

How Help to Buy Equity Loans Work

First time buyers and those already on the property ladder can apply.
To qualify a 5% deposit is required.
A 75% mortgage must be secured from your bank or building society.
The remaining 20% of the property’s value is funded by an equity loan provided by the Government.
House prices can’t be more than £600,000 in England and £300,000 in Wales.

Without Help to Buy

Your deposit	£2,500	5%
Your mortgage	£47,500	95%

Monthly Payment	£213.30

With Help to Buy

Your deposit	£2,500	5%
Help to Buy Loan	£10,000	20%
Your mortgage	£37,500	75%

Monthly Payment	£168.39

This calculator is provided to give you basic guidance only. This information is computer-generated and relies on certain assumptions. It has only been designed to give a useful general indication of costs. Its important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errorsand recommend that you obtain exact figures from a specific lender before committing to any mortgage.