Shared ownershipShared ownership lets you buy a share of a property (Picture: Getty Images)How it worksIf you can’t afford a home outright, shared ownership allows you to buy a share of a property, between 25-75% of the whole thing. There’s a special version of shared ownership available for older people. ‘The majority of shared ownership properties are also leasehold and come with a short lease,’ says mortgage adviser Kev Tilly from Mortgageable. You can only apply for shared ownership mortgages, making it difficult to shop around. He used shared ownership to buy a 40% stake in a one-bedroom top-floor flat, moving in last November.

Source: Metro April 20, 2021 10:52 UTC