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The highs and lows of shared ownership

Schemes that reduce the initial costs of buying a home are becoming increasingly popular, but there are some hidden complexities, explains Roberta Organ

27 October 2015

It is a well-known fact that housing affordability in the UK has been an issue for almost a decade. With an aspirational population, many aim to own their own home as soon as they are financially stable. Yet, with recent growth in house prices, the margin of owner occupation shows how many households are finding the transition to home ownership increasingly difficult.

Shared ownership schemes are in place to bridge the affordability gap. They offer prospective buyers a facility whereby the initial costs of home ownership are lower,
so that those who fall short of providing a full 10 per cent deposit on exchange of contracts, as well as affording
all other associated costs, can enter into a local housing association scheme to try to climb the property ladder.

Not to be confused with
shared equity, shared ownership schemes offer between a 25 per cent and a 75 per cent shar...

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