Which scheme is better, Help to Buy or Shared Ownership?

These are very different schemes, and a lot will be dependent on availability in your area, your personal circumstances, and the resources you have available to you.

If, however, the question is faced against similar properties within your area and you are able to afford the minimum 5% deposit for the Help to Buy property then this, in my opinion, is the better option as you will just have the mortgage to repay, whereas with a Shared Ownership you will be paying rent on the shares you do not own. There will also be service charges to pay as all Shared Ownership properties are leasehold.

The other downside to buying Shared Ownership properties is that when you wish to purchase additional shares there will be additional costs and the new shares will be purchased at the value at the time, so expect to pay a lot more for future shares.

When buying a Shared Ownership property, the idea is to eventually purchase all the shares and own 100% of the property which will then make it a freehold property; however, there are many associations that will not allow you to staircase and own 100% of the property.

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