With Help To Buy Shared Ownership you take out a mortgage on a share of the property you want to buy – between 25% and 75% – and rent the rest of your home from a housing association, usually at below the market rate. With Skipton, you can borrow up to 90% of the value of your share in a property but remember, you need to budget for both monthly mortgage payments and rent. You also have the option to increase your share over time, at a price based on the value of the property at the time – so if property prices rise, you'll pay more for your share, if they fall, you'll pay less. In many cases you can increase your share up to the point where you own 100% of your home.
To buy a home through a shared ownership scheme, you’ll need to contact the Help to Buy agent in your area. Visit the government’s Shared Ownership pages for their contact details along with all you need to know about the scheme.