understanding financial jargon
A scheme which enables a borrower to buy a proportion of a property, with the remainder being owned by a housing association is called Shared ownership. The borrower pays rent on the portion owned by the housing association, and is usually entitled to buy subsequent shares in the property until they fully own the property, a process known as `stair-casing'.
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
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