A fair share up for grabs

IS SHARED ownership worth it? That's just one of the questions that comes up when you Google this barely understood route to affording a home.

- Deborah Stone

Another frequently asked question is, what is it? Shared Ownership has been around since the 1980 Housing Act, allowing buyers to purchase a share of a property then pay a subsidised rent on the remaining share, but it's only in recent years that it has come to more people's attention.

Only available on new-build homes, buyers can start with just a 10% stake in the property, although most opt for a minimum 25%. They don't ever have to buy any more but after a certain amount of time, depending on who owns the lease, they can then start to "staircase" their way up to 100% ownership.

However, some properties have an 80% cap to ensure that the housing provider - in this case usually a housing association or local authority - can market the property and make sure it goes to a local buyer.