Shared Ownership is a great way for those who cannot afford market prices to get on to the property ladder. It is an ideal opportunity for first time buyers.

When buying a shared ownership property you will buy a portion of the property that you can afford (this is usually 25%, 50% or 75%) you would then rent the remaining portion (that you cannot afford to buy). This is usually financed with a mortgage or out of savings.

After an initial qualifying period, usually 12 months, the shared owner may buy further shares in the property (usually in 25% increments) there is no obligation to do this. If you are able, it is possible to eventually buy 100% of the property.