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 leasehold 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
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.