A shared ownership mortgage is another government-backed scheme that helps give first-time buyers across the UK an opportunity to get on the property ladder.
You can usually buy between 10% to 75% share of a property from a housing association. You then pay rent on the remainder of the share left. You can choose to buy more shares in your home in the future to pay less rent, this is known as 'staircasing'.
The rules on shared ownership slightly differ depending on which UK nation you live in, but you can visit the gov.uk shared ownership scheme website for further information.