Definitions for "Shared ownership"
A form of tenure designed to help first-time buyers, whereby households partly own and partly rent their homes.
buying a home in partnership with a housing association. The schemes available are designed for those who could not otherwise buy their own home.
A shared ownership property means you own a certain percentage of it, and another person or company owns the remaining percentage which could be more or less than the percentage of the property you own or have a mortgage on. Shared ownership properties are usually owned partly by a housing association, and partly by you.