Q.What is Shared Ownership?
Shared Ownership is a scheme that allows you to buy a part of a home and rent the rest.
Q.Who can apply for this scheme?
Only registered providers of social housing can apply.
Q.How much of a home can I buy?
You can buy a share starting from 25% of the home.
Q.Do I need a mortgage to apply?
Yes, you will likely need a mortgage for the share you want to buy.
Q.Can I sell my share later?
Yes, you can sell your share, but you must follow the rules set by your housing provider.
Q.Is there an age limit to apply?
No, there is no age limit for this scheme.
Q.What happens if I cannot pay the rent?
If you struggle to pay rent, it’s important to contact your housing provider for help. Pro Tips / Insights: Make sure you have all your documents ready before applying. This will speed up the process. Also, check your credit score. A good score can help you get a better mortgage deal. Finally, ask questions if you are unsure about anything. The more you know, the better your chances of success.
