What is Shared Ownership?

Shared Ownership is for anyone who doesn’t currently own a home. If you want to get on the property ladder, but can’t afford to buy outright on the open market, then Shared Ownership could be for you. Under the Shared Ownership scheme you part-own and part-rent your home, making it possible for first-time buyers and families to get on the property ladder.

The minimum share you can purchase is 25% and the maximum is 75%. You will usually pay a mortgage on the part you own and a subsidised rent on the part you don’t own. As your income rises, you can increase the share you own until you eventually own 100%.

Learn more about Shared Ownership from L&Q