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How do shared ownership mortgages work?

April 26, 2017mortgages ownership Shared

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How do shared ownership mortgages work?

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The shared ownership mortgage scheme works by property buyers ‘sharing’ the ownership of the property. On the initial purchase you will typically buy 25/50/75% of the total property value. The remaining 75/50/25% of the property is owned jointly, usually with a housing association.