The new service, launched by Experian and the New Homes Group, aims to help brokers quickly locate the lenders who are most likely to provide finance for customers using the government scheme to make their house purchase.

Announcing shared ownership was the latest scheme to be added to its pre-qualification eligibility panel, Experian confirmed the government’s rules and affordability calculation would be included in the check. Therefore brokers would be able to quickly qualify the customer with more confidence that the lender will accept them.

This allowed more time to provide advice and guidance for customers looking for a non-standard mortgage deal.

Skipton Building Society and three other lenders were on the panel to launch the service, while others are in talks to join over the coming months.

Alex Beavis, head of mortgages at Skipton Building Society, said: “We’re delighted to see Shared Ownership added to the Experian eligibility checking service.

“As a mutual, we aspire to promote and enable homeownership in all forms, believing that Shared Ownership provides a much-needed bridge for aspiring homeowners in the private rented sector to migrate into the security of mortgaged homeownership.

“We’re also keen supporters of new technology, and this enhancement to the Experian pre-qualification service will improve both the customer and broker experience for new Shared Owners.”

The addition comes as the new £11.5 billion Affordable Homes Programme gets underway, running from 2021 to 2026  with the aim to deliver up to 180,000 homes across the UK, generating more demand for shared ownership.

Experian said brokers would need to have the best tools available to guide new home buyers in finding affordable mortgages.

Lisa Fretwell, managing director of data services at Experian UK&I, said: “Getting on the property ladder is an exciting moment in anyone’s life, yet the path leading up to receiving your keys can be daunting.

“We’ve worked with The New Homes Group to make the shared ownership mortgage application process that little bit easier for brokers and their customers alike. It’s the perfect time for this service as the UK ramps up its delivery of affordable homes.”