Home Ownership

How does shared ownership work?

The scheme allows you to purchase a share of a property usually from a housing association.  The share you purchase can be funded by a mortgage, or by using capital.  The remaining share you do not own is rented from the housing association.
The size of the share to be purchased will depend on that being offered by the housing association.  However it may be possible to purchase either a smaller or larger share.  The higher the share you purchase, the less rent you will have to pay.  You may also have to pay a service charge, buildings insurance and management fee.  It may be possible, at a later date if you wish, to buy further shares until you own the property outright.

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