What is shared ownership mortgage? If you are still in the process of saving up to buy a home, why not take advantage of shared ownership mortgage? In addition, you must have the entire amount of money required to purchase certain real estate that you're eye. With a shared ownership mortgage, it will be like owning a share of stock, just to get all the rights to use it. So if you have a home that is under common ownership mortgage, you need only buy a certain percentage of units for part of the share will be owned by a housing association where you bought the property, this section will also meet on a monthly rental fee to be paid. So, it's like owning a part, a part of the rental properties, but the good thing is that you get a lot of tenancies.
Can you eventually own the property which is under joint ownership mortgage? Yes, you can definitely own any property that is under common ownership mortgages. This is actually an advantage of shared ownership mortgages. There is a 99-year window where you can buy a property, which means you can literally have a lifetime to purchase shares for the remainder of the property you are not alone.
