You’ll currently need at least a 5% deposit to buy a shared ownership home. But that deposit is calculated based on the share you’re buying, not the full market value of the property. You’ll also need savings to cover the initial purchase costs such as the mortgage and solicitor fees; this is normally around £4,000, but can change depending on who you use. To reserve your chosen home, you’ll also need to pay a reservation fee. This will secure the home as yours until a formal offer is made, and will usually be between £250 and £500. This cost will be deducted from the total purchase price when your sale completes.