Shared Ownership
Shared ownership homes offer a low cost way to get on the home ownership ladder, making housing affordable to those who perhaps don't earn enough or aren't in the position to buy a property at its full value.
With shared ownership you can part buy and part rent your home; you might buy a 25%, 50% or 75% share in your home and pay a small rent on the share that you don't buy. The bigger the share that you purchase, the less rent you have to pay. The monthly cost of buying a 50% share is about two-thirds of what you would pay on a mortgage if you bought the property outright. When you can afford to do so, you can buy more shares until you own your home outright.
Shared ownership schemes are now widely available across several different plots and housing types so there is plenty of choice available.