shared ownership

**Shared Ownership**:
Shared ownership is a housing scheme that allows individuals to buy a share of a property-typically between 25% and 75%-and pay rent on the remaining share owned by a housing association or developer. This option helps make homeownership more affordable by reducing the initial deposit and mortgage amount. Shared ownership is ideal for first-time buyers or those who cannot afford to purchase a home outright. Over time, owners can usually buy additional shares (known as “staircasing”) until they own the property outright. This scheme combines the benefits of homeownership with lower upfront costs and flexible entry into the property market.