: You take out a mortgage for the share you are buying. Because you are only purchasing a portion of the home, your required deposit is significantly lower—often 5% to 10% of the share value rather than the full market value.
: Over time, as your financial situation improves, you can buy more shares of your home until you own it outright. This process is known as staircasing . Current Shared Ownership Developments part buy part rent brighton
Part-buy part-rent, commonly known as , is a government-backed scheme designed to help first-time buyers and those who don't currently own a home get onto the property ladder in high-demand areas like Brighton . It allows you to purchase a share of a property (usually between 10% and 75%) and pay a subsidized rent on the remaining portion to a housing association. How Shared Ownership Works in : You take out a mortgage for the share you are buying