Shared Ownership - a problem shared is a problem halved

Shared Ownership is resolving the problem faced by people trying to get onto the property ladder.

Shared Ownership Mortgages are allowing first time buyers and families struggling with the credit crunch to get onto the property ladder by giving people the chance to share the ownership of a home.

Shared ownership schemes, which have recently been opened up to all first time buyers earning less than £60k per year, allow you to share the financial responsibility of home ownership. By part owning the property and then renting the other share of the property you can slowly get onto the property ladder.

Shared ownership schemes encourage you to buy as large a percentage as possible and then over time buy more shares in the property as you can afford to.

There are several different types of shared ownership mortgages, so it is often a good idea to shop around and find the right shared ownership mortgage for you and your situation.