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Shared ownership

People who are unable to afford the mortgage for 100% of a property, may be eligible for properties under Shared Ownership schemes.

Shared Ownership schemes usually allow you to purchase a minimum 25% share of a property and pay a small rent on the remaining percentage. The rent is normally payable to a Registered Provider of housing (also called a Housing Association) which owns the property.

Most schemes permit the option to buy a greater part of the property, as and when you are able to afford it. This is called 'Staircasing'. Some schemes even permit this up to 100% ownership.

Government guidance on shared ownership

Shared equity

Shared equity is very similar to Shared Ownership but you do not pay rent on the other equity share.