Low Cost Home Ownership comes in a variety of forms. There are three ways to buy into or own your own property.
1. Shared Ownership: Buy a percentage of a new or existing property from a Housing Association. You find a mortgage or finance for between 40% and 75% of the current market value and pay an affordable rent to the Association on the remaining share. The house is classed as your own and you will be responsible for repairs and maintenance to the property. You can, in the future, buy more of your home and pay less rent, eventually staircasing to 100% and owning your home outright.