Searching for shared ownership mortgages?
With a shared ownership mortgage, you buy just part of your home with the rest of the cost covered by your local housing association. In this situation, you would make mortgage repayments on your share and pay rent to the housing association for the other part. The long term goal of such plans is that eventually, as your situation improves, you will be in a position to buy the remaining share of the property from your housing association.
Not all lenders offer shared ownership mortgages, and the rate you pay will usually be slightly higher than the rate offered on a conventional mortgage, but in many cases you may be allowed to borrow a high percentage of the cost so it can also mean you have to find less capital in order to be able to afford the move.