Sweet Horlicks dream a reality

NEWS that it’s a buyers’ market for UK property is of little comfort to those who still can’t afford to buy a home of their own because the high private rents they’re paying makes saving for a deposit difficult.

- By Deborah Stone

So why aren’t more people buying through shared ownership, a government-backed scheme largely run by housing associations that allows people to buy a percentage of a flat or house and pay a reduced rent on the rest of the property?

It could be that people haven’t heard of shared ownership or, increasingly, it could be because they've heard only bad things about it.

Shared ownership properties are leasehold with annual service charge reviews that almost always lead to increased charges. Also, when it comes to selling up, the housing provider has exclusive rights to market the property for a number of weeks.