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The Mortgage Route A to Z
Shared ownership

This glossary or A to Z should help clear up any confusion as to what terms mean what in the mortgage and insurance industry

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Letter S

Shared ownership

Shared ownership is a form of property purchase in partnership with a Housing Association. The borrower purchases a portion of the property such as 25% 50% or 75% and then pays a rent the remainder to the Housing Association.

This is also known as co-ownership, this arrangement is designed for people who could not otherwise become homeowners.

Housing associations are independent not for profit organisations who are funded by the government to provided social housing they have to a certain extent taken over the job of housing people from the local authorities ie the councils.

FSA declaration and important text about mortgage advice