Shared Ownership refers to properties where the occupier owns part of the house and pays a ‘rent’ to the Association for part of the house.
The Sharing Owner will generally pay a mortgage on the share they own. The Sharing Owner has a right to buy the share from the Association and receives a limited service from the Association e.g. the Association is not responsible for repairs to the house.
The Association has not built shared ownership for some time, many are now fully owned and they rarely become available for ‘let’.