Shared Ownership Flaws

Home ownership prospects for young people in Britain are bleak.  Shared ownership was designed to help people unable to put down huge deposits get on to the property ladder. Shared ownership properties allow aspiring homeowners to buy a part of a new home (between 25% and 75%) and rent the remainder from a housing association, with the option to increase their ownership of the property at a later date.  Which is fine in theory but there is no such thing as shared ownership. Rather than a way on to the housing ladder, shared ownership is "just a tenancy, with an expensive downpayment for an option to buy the whole property at a later date".  One shared owner found this out the hard way when, after falling behind on her rent, she was evicted from her part-owned property and a court ruled she had no right to the £30,000 she had already paid for her share. Read more on the Guardian website.