What is Shared Ownership?

Shared Ownership means that buyers can buy a share of a property (between 25% and 75% of the home’s value) and pay rent on the remaining share to a developer or housing association.You can take out a mortgage to pay for your share of the home’s purchase price but this will need to be approved by the developer or housing association. At a later date, you could buy bigger shares to increase your share of the property.