If you can’t get a mortgage to buy a property outright, a shared ownership scheme could enable you to buy a 25-75% share in partnership with a social landlord like a housing association. You would then pay ‘rent’ on the share that you do not own to the landlord.
For example, if you bought a 50% share of a property at £100,000 then you would pay rent on the remaining £50,000.
When you part-buy, part-rent a home through shared ownership, you can apply for a smaller mortgage – so your deposit could be lower too.
For more details speak to a mortgage adviser.