Mortgage Knowledge Base
Shared ownership is a type of home ownership in the UK that allows the buyer to purchase a share of a property and pay rent on the remaining share. The buyer can purchase a minimum of 25% of the property and can eventually own the property outright by purchasing additional shares.
Shared ownership is often seen as an alternative to buying a property outright, as it can allow the buyer to get onto the property ladder with a smaller deposit and a more affordable monthly payment. Shared ownership is typically available to first-time buyers and home movers who are unable to afford to buy a property on the open market.
