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Mortgage News : Shared ownership mortgages


Shared Mortgages


Shared ownership mortgages are somewhat limited as some lenders feel that shared ownership can be more risky than more traditional mortgage types.

With a shared ownership mortgage you buy a part of your home usually 50% with the option to extend to full ownership in the future. Such schemes are usually administered by a Housing Association and you would pay rent to them on the percentage that they own. This scheme is usually targeted to first time buyers, although some do accept second time buyers also.

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