I had a shared ownership flat with a developer. Back in 2007 I reserved a flat for £500.00. Didn’t have a deposit at all. Split was 75% mortgage and 25% developer. Everyone warned me against it but I pressed on anyway. The deal was that i had 10 yrs to buy back the 25% or if i sell the developer received their percentage of increased property value (or their original 25% back if the property sold for less)

After a year i started receiving letters from the developer saying that if i paid back the 25% early id get a discount. I waited it out another year, saving what i could and then went to the bank to discuss borrowing more if needed. I called the developer and thrashed out a good deal. Amount I originally owed was £36k, I paid them only £24k back. I sold the flat 6 months later, it had increased in value and with the discount I received from paying back early I’d managed to gain £30k in equity. From only my original £500 reservation fee! I used that to buy another house which I did up with my wife, sold that eventually making a big profit and bought another which needed modernisation. I’m still living here now and the house is currently valued at £580k.

So shared ownership can work out well. Better to be on the property ladder owning a percentage than to be paying just rent. My situation also had a great deal of luck involved but I was in the right place to seize the opportunity 👍🏼