Shared equity allows a borrower to buy a new house in partnership with a developer with incentive terms attached e.g. a reduced interest rate or payment holiday for a defined period. Ultimately you will have to purchase 100% of the property which is generally funded through a mortgage.

Shared ownership is also known as part buy, part rent because shared owners buy a share in their home and pay a reduced rent on the rest. Gradually you may want to buy further shares and eventually own your home outright.

SmartShare is the first national property website that is dedicated to affordable homes including shared ownership and shared equity properties. There are thousands of properties available throughout the UK from all the leading Housing Associations and developers, click here to go to the website www.smartshare.co.uk

For more answers to your affordable housing questions go to: http://www.smartshare.co.uk/frequently-asked-questions-about-affordable-...