Shared ownership was a scheme that was introduced by the Government to assist first time buyers to purchase a home using a combination of renting and owning a (house) property.
Shared ownership housing is aimed at people who cannot afford to buy a house outright on the open housing market, but are still keen and financially able to make a start on the housing ladder. The occupier purchases a share (typically starting with 25%) in the ownership of the property and pays and Occupancy Charge (rent) on the remainder.
Shared Ownership has now been replaced by the Shared Equity Scheme.
Occupancy/service charges are charged on a monthly basis and are due on the 28th of each month in advance.
Sharing Owners can pay their account by the following methods: