If you can’t quite afford the mortgage on 100% of a home, Help to Buy: Shared Ownership offers you the chance to buy a share of your home (between 25% and 75% of the home’s value) and pay rent on the remaining share. Later on, you could buy bigger shares when you can afford to.
Shared ownership is for those who are unable to afford the cost of buying a whole house and wouldn’t otherwise be able to buy a home.
While this might sound like an easy way to get on the housing property ladder, you need to think about it carefully. It is still a big financial commitment and, even though you don’t own all your house, you’ll be responsible for all the bills.
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