Shared ownership housing

Shared ownership housing is housing where the ownership of the dwelling is split between the occupier and a landlord (usually a housing association) – say 50:50. This allows the occupier to have a stake in the ownership of a property (and hence in any increase in its value) which they are unable to buy outright. In effect they pay an element of rent to the landlord and a mortgage payment to a mortgage provider (e.g. a building society). Usually the occupier is gradually able to increase their share of the ownership, eventually buying out the landlord’s share (called ‘staircasing’ – gradually climbing the housing ladder). The resident is a leaseholder with a shared ownership lease.