Shared ownership helps people who cannot afford to buy a home of their own outright. It's an alternative to renting and full ownership. It is suitable for people with a regular income who want to buy their own home but cannot afford a full purchase.
With shared ownership you buy a share of your home and pay rent on the rest. You pay a percentage share of the full value of a property, paying rent on the portion not purchased. Equity percentages range normally from 25 per cent up to 75 per cent and shared owners can apply to purchase further shares at a later date, with the option of 'staircasing' up to full ownership.
Shared ownership homes are now being developed across North Lincolnshire. The scheme is run by the Joseph Rowntree Housing Trust in partnership with local housing associations.
Shared ownership homes currently available
There are a number of shared ownership homes currently available across North and North East Lincolnshire. See the attached information leaflet for more details.
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