What is Shared Ownership?

Shared ownership is an affordable home-ownership scheme where a buyer purchases a share of a property (typically between 10% and 75%) and pays subsidised rent to a housing association on the remaining share. Buyers can later increase their share through a process called staircasing, sometimes up to 100%. Properties are usually leasehold, and owners are responsible for service charges and often full repair costs even on the part they do not own. It lowers the deposit and mortgage needed to get on the ladder.