Jargon Busting: Shared Ownership
Shared Ownership explained in 30 seconds
What do I need to know about the part-buy part-rent scheme?
Shared Ownership, also known as part-buy part-rent – allows buyers to purchase a share of a home, paying a mortgage on the share they own and rent on the remainder to a housing association. The scheme is great for those who are looking to buy but can’t quite afford to purchase a home on the open market.
With Shared Ownership, the purchaser only needs to get a mortgage for the share they own (not the full amount of the property) meaning that the amount of money required for a deposit is usually much lower compared to purchasing outright.
For more information on Shared Ownership, check out our other articles below:
- Shared Ownership 101
- Shared Ownership Eligibility
- Shared Ownership Costs
- Step by step guide to buying a Shared Ownership home
- Shared Ownership vs. Help to Buy
If there is any home buying terminology that you find confusing, or if you have queries about the Help to Buy or Shared Ownership schemes, let us know at @SharetoBuy on Twitter, Facebook or Instagram and we can help answer your questions!
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages, and find out all you need to know about alternative home buying schemes using our FAQs and guides.