What is ‘Low Cost Home Ownership’?

Shared ownership is a concept that has been around for many years. It is designed to help those without the resources to buy a suitable home on the open market, get a first step on the housing ladder. Shared Ownership is now generally referred to as Low Cost Home Ownership.

If you are considering buying your own home but cannot afford to do so outright, either because you cannot afford the full mortgage repayments or the deposit or both, then low cost home ownership may be an option for you.

There are various schemes open to you, some offering the opportunity to purchase a share in a property, with the option of buying more shares later on. Other schemes will provide you with a loan to enable you to complete the purchase of a property.

In common with Housing Associations, Devon and Cornwall Affordable Housing CIC offer two Low Cost Home Ownership or Shared Ownership options, but unlike some Housing Associations, NO RENT is paid on the non-purchased share, making the property even more affordable.