The main downside of shared ownership is that you are responsible for both mortgage repayments and rent on the share you do not own.
You may also need to pay service charges, and these can sometimes increase over time. In addition, selling the property can be more complex due to housing association rules and leasehold requirements.
However, for many buyers it remains a practical route onto the property ladder when buying outright is not currently affordable.
Your home 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.