SHARED OWNERSHIP: A LOW-COST WAY TO BUY A HOME – BUT IS THERE A CATCH? – THE GUARDIAN

It is touted as a cheaper way to get on the property ladder, but there can be drawbacks. We weigh up the pros and cons.

Shared ownership is promoted as the low-cost, low-deposit path for first-time buyers to escape the rent trap. But is the part-rent, part-buy model the staircase to heaven or hell?

For Caitlin Bucktrout and her partner, Sam Ward, both 25, it has been heavenly. They picked up the keys to their newly built three-bed semi near Headingley in Leeds in February 2020, just as the coronavirus pandemic threw the country into lockdown.

Their 25% share costs them just under £900 a month (including the rent element and service charges) – or almost exactly the same as the rent they paid on their former two-bed flat. But their new home comes with an extra bedroom, a garden and parking – and they now have their fabled first foot on the property ladder.

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