Shared ownership can be cheap – but it can also be full of pitfalls. We talk to buyers who admit they have mixed feelings approximately the schemeIn April,a recent era for shared ownership begins, with the government relaxing the rules on eligibility and opening it to anyone with a household income of less than £80000, or £90000 whether you are buying in London. The change will mean 175000 more people across the country will be able to buy.
For some,shared ownership is a bonanza: buyers only have to stump up 25%-75% of the price of a property, pay only a small deposit, and are charged a subsidised rent on the portion of the home they dont own. When they are in better shape financially they can “staircase” up to full ownership.
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Source: theguardian.com