Stepping onto the property ladder has become an enormous stretch for first-time buyers. But for those with no access to the generous bank of mum and dad, could shared ownership help?
Initially conceived in the 1980s with the aim of helping key workers to access the housing market, the niche housing scheme has the potential to become mainstream as a result of significant new investment.
As part of its drive to reverse the decline in home-ownership, the Government has allocated an unprecedented £4.1 billion to enable the construction of 135,000 new homes for shared ownership.
The rules have also changed to allow broader eligibility criteria for buyers and a wider range of providers to offer the homes, previously only managed by housing associations.
Shared ownership is a part-rent, part-buy option designed to help those struggling to save up for a deposit.
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