Shared ownership is a government-backed schemed designed to help first time buyers on to the property ladder. 

The scheme is part-buy part-rent, and this means you buy a share in a property and pay rent on the part you don’t own.  

You buy a share starting from 25% all the way up to 75% and the housing association owns the rest. You pay a subsidised rent on the part you don’t own.  

Buying a share can often mean a lower deposit, and you only need a mortgage for the share you’re purchasing, rather than the full property value.