Shared Ownership
Scheme to buy 10-75% of a property and pay rent on the rest.
Full definition
A scheme where you buy a share of a property (10-75%) from a housing association and pay subsidised rent on the share you don't own. Lower deposit required (5% of your share rather than the full property). Can staircase to higher ownership over time. Hidden costs include service charges, ground rent, and repairs on 100% of the property.
How this affects you
Whether shared ownership is relevant to your mortgage depends on your circumstances — lender, product, deposit, employment, credit profile, and stage of application. An FCA-authorised mortgage broker will tell you exactly where it applies to your case.
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