Shared Ownership makes mortgages more accessible, even if you're on a lower wage. Your monthly repayments can often work out cheaper than if you had an outright mortgage. The monthly payments are also generally lower than if you were to rent privately. ... Unlike private renting, you have security of tenure.

What is the downside of shared ownership?

What are the disadvantages of Shared Ownership? Because Shared Ownership properties are always leasehold, ground rent may apply and you must pay this in full no matter what size share of the property you own. ... Therefore, the price you pay per share will rise with house prices the longer you wait.

Why shared ownership is a bad idea?

What are the downsides to shared ownership? Hopefully the monthly mortgage repayments, plus rent will still make shared ownership far cheaper than buying a property outright. ... Be aware that even though you own a share of the property, say 30%, you are responsible for paying the full maintenance and repair costs.