Part ownership schemes

I've been browsing property for sale ads with a view to buying. I've come across a number of part ownership schemes. Can anyone advise me what they are, how they work and most importantly are they recommended?

Thanks.

I've been browsing property for sale ads with a view to buying. I've come across a number of part ownership schemes. Can anyone advise me what they are, how they work and most importantly are they recommended?

 

Thanks.

I wouldn't touch most of them, you would usually pay rent on the part that you don't own.

They work out quite a bit more expensive in the end. Get something cheaper that you can own outright.

I've been browsing property for sale ads with a view to buying. I've come across a number of part ownership schemes. Can anyone advise me what they are, how they work and most importantly are they recommended?

 

Thanks.

I wouldn't touch most of them, you would usually pay rent on the part that you don't own.

Shared Ownership leases- if they're what you meant- do enable some people to purchase what they otherwise could never manage to purchase. Yes, the purchased part is funded by cash or a mortgage advance; the rented part involves payment of the appropriate proportion of the full rent.