Shared ownership can be an affordable way of getting on the property ladder.
The scheme is a part-buy, part-rent scheme.
You co-own the property with a housing association, often a new build, and will be charged a rental on a portion of the property.
If you use the initiative, you need to buy between 10% and 75% of the property. You can then buy more shares until you own 100%.
A deposit of 5% is required to secure the home and fund your share using a shared ownership mortgage.
This scheme allows the buyer more security of tenure, allowing for you to work towards full ownership as circumstances change.
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