Half of first-time buyers consider Shared Ownership as means to get on property ladder
50% of first-time buyers would consider or have considered using Shared Ownership as a means to getting onto the property ladder, according to new research from The Mortgage Lender (TML).
With affordability concerns prevalent among many looking to become homeowners, Shared Ownership allows those aspiring homeowners to part buy-part rent a property that may have otherwise been unaffordable for them.
While TML’s research found that two thirds (65%) of first-time buyers were unsure what Shared Ownership means, once this was made clear half said they would consider or are already considering this as an option to buy a property.