The number of shared ownership homes is set to soar by 70%
According to a recent article by Zoopla the somewhat unloved concept of shared ownership is set to change. The shared ownership scheme which allows house hunters to part own, rent a property and currently accounts for less than 200,000 households in the UK.
In his recent Autumn Statement, Chancellor Philip Hammond announced he was setting aside £1.4bn to boost the number of affordable homes, including those available through shared ownership.
The Council of Mortgage Lenders (CML) has also indicated that banks and building societies are keen to support the scheme. There are currently around 20 lenders that will offer mortgages on a shared ownership basis, but many of these are small, local building societies.
To find out if you qualify and how to find a property Read on..