Shared ownership

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Shared ownership

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Shared ownership

I have been reading the stuff on Homebuy and the Shared Ownership schemes. Are both these schemes still running? Is it possible to have less than a 75% share in the ownership? Could I have a 25% or 50% share?

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Report Abuse | Date 26/2/2001 10:13:00 AM

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Shared ownership (in reply to Guest)

Homebuy is the name given to a special programme supported by the Government, which always involves the purchase of 75 percent of the property. The remainder is purchased by you, using a loan from the Housing
Association. On the sale of the property, the loan is repaid, along with a proportion of any increase in the property value.

Shared ownership means you buy part of a property and rent part, usually from a housing association. Shared ownership schemes involve the purchase of anything from 25 to 75 percent of the property, though you may well be able to increase your holding above this, even buying the property outright.

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Report Abuse | Date 27/2/2001 10:11:00 AM