We know there are many borrowers that can afford ongoing mortgage payments, but can’t access a mortgage due to their deposit, income, or both.
But first-time buyers don’t need just one solution. They need a range of options that match their own diverse needs, including innovative mortgages and targeted developer incentives, as well as affordable homeownership schemes.
Shared ownership is the most established and widely available affordable homeownership route for many aspiring buyers. After the end of Help to Buy in England and Scotland, shared ownership is well positioned to fill the vacuum, especially in the south of England, where affordability is stretched thin.
We know the demand for shared ownership is there. Many current renters would prefer a gradual route into ownership if it were widely available and easier to understand. But supply remains constrained. Much of today’s shared ownership delivery is linked to grant funding and specific development pipelines, which doesn’t meet the full level of demand.
The opportunity now is to scale shared ownership responsibly, with clear information, consistent standards and collaboration between lenders, providers and advisers. If we get that right, shared ownership can play an even bigger role in helping more people take their next step onto the property ladder.
And that’s why broker advice is so important to the growth of this market.
