Experian has added shared ownership to its pre-qualification eligibility panel, adding a checker allowing brokers to see which lenders offer this type of mortgage.

The financial data group has partnered with Colchester-based housing firm The New Homes Group to offer the service, based on the government’s rules and affordability calculations.

Experian says the move allows brokers “more time to provide advice and guidance for customers looking for a non-standard mortgage deal”.

Shared ownership allows buyers to purchase between 25 per cent and 75 per cent of a home’s value, and pay rent on the remaining share.

The move follows the government launch of its nationwide £11.5bn five-year Affordable Homes Programme 2021 to 2026, last September.

The Ministry of Housing, Communities & Local Government said it would back the provision of up to 180,000 homes “for sale or rent for those whose needs are not met by the market”.

Experian UK&I managing director of data services Lisa Fretwell says: “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.”

The New Homes Group group managing director for new build mortgage services Terry Higgins says: “This technology will help people find the best shared ownership mortgages they qualify for.”

Experian says Skipton Building Society is one of the lenders on its panel, “while others are in talks to join over the coming months”.

Skipton Building Society head of mortgages Alex Beavis says: “We’re delighted to see shared ownership added to the Experian eligibility checking service. As 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.”