What is shared ownership?
Shared ownership is a cross between renting from a housing association and owning a house. It is aimed mainly at people who cannot afford to buy a house outright but are still keen (and financially able) to make a start on the home ownership ladder and invest some money in their property.
The occupier purchases a share in the ownership of the house (25%, 50% or 75%) and pays a reduced rent on the remainder. Shared ownership occupiers have the right to buy further 25% shares of the equity, up to and including 100%, which means that they then become the sole owners of the property. This offers a greater opportunity for more people to access home ownership.
We estimate that the following properties will soon become available for shared ownership with Link Group:
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Wood Street, Grangemouth - available around July 2010
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10 x 3 apartment, 4 person terraced houses
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6 x 4 apartment, end terrace/semi detached houses
Link Homes LIFT new build developments|.
Link Homes Guide to new supply Shared Equity|.