What is a shared ownership mortgage?
Can you rent out a shared ownership flat?
You can’t usually rent out a shared ownership property. There are some rare exceptions to this, but it’s best to speak with your housing association if you have any questions.
Can you build an extension on a shared ownership house?
Larger home improvements, like extensions, will need to be approved by your housing association.
How much does shared ownership cost?
The cost of owning a shared ownership property will depend on lots of factors, including:
- Value of your property
- Size and value of your share
- Value of your mortgage payments
- Monthly rental payments
- Cost of service charges and ground rent
Can you buy shared ownership outright?
Over time, you can do what’s called staircasing. This is where you gradually buy more shares in your property. Eventually, you can build this up to own the whole property.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
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