Shared Ownership is a one of the many types of mortgage available through Rainbow. This type of mortgage is where the customer obtains a mortgage to purchase a section of the property and then pays rent to a housing association on the remainder of the un-mortgaged property. 

Shared Ownership mortgages are intended for people who have no way of affording to buy suitable property for their needs outright. Social housing tenants, housing association and local authority waiting list persons are usually given priority on shared ownership housing.

It is usually possible to buy more shares within the property to reduce rent payments and ultimately outright own the property once all shares have been acquired.

 

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Rainbow is a trading style of Havering Financial Consultancy who is an appointed representative of Intrinsic Financial Planning Limited which is authorised and regulated by the Financial Services Authority.