No, shared ownership is not designed for any one type of person. It is intended for buyers who can afford monthly payments but may not yet be able to buy a home outright in their chosen area.
This includes first-time buyers, professionals, families and key workers. It is simply another route onto the property ladder and can be a sensible stepping stone towards full ownership.
Your home/property may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
For the full picture, read our guide to is shared ownership worth it.
Still weighing it up?
Every situation is different. Have a free, no-obligation chat and we will give you a straight answer for your circumstances.
