Is shared ownership right for you?

The opportunity to share ownership is beneficial in getting you onto the property ladder early. Shared ownership houses have been introduced by the UK government, and are provided through housing associations.

As a shared ownership home – you can buy a share of the property and pay the rent on the remaining share of the property. The share of the property that you can buy will usually be between 25%-75% of the property value.

To be eligible for a shared ownership property you will need to talk with your local housing association as this can vary on the housing association that is selling the property. If your household income is above £80k outside of London, or £90k inside London – you will NOT be eligible for the scheme.

You will need to discuss further eligibility check and important considerations in order to enter into the shared ownership scheme. As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments

Please email paul@psrfinancialservices.com for more information.

The guidance and/or advice contained within this website is subject to the regulatory UK regime, and is therefore targeted at consumers based in the UK.