The average home price in the UK has risen to £293,000, according to the latest data from the Office for National Statistics (ONS). This increase has made buying a home increasingly difficult for many young people, especially given the high cost of renting. As a result, shared ownership is being considered as a more accessible route into homeownership. In this model, buyers purchase a portion of a property and rent the remaining share, often requiring a smaller deposit than a full purchase. Phil Spencer, a TV property expert and founder of the property advice website Move iQ, explains that shared ownership is intended to help people own and live in their homes, not as a way to get around rules on buy-to-let properties. He notes that subletting—renting out part of the property—is typically not allowed under standard shared ownership agreements unless the buyer owns the entire property or gets permission from the housing association. Some agreements might allow temporary subletting, such as for work-related relocations, but written approval is always needed. For those considering taking in a lodger, Spencer advises carefully reviewing the lease agreement, as some shared ownership schemes allow lodgers while others do not. Even when permitted, the homeowner remains fully responsible for the property, and the lease will outline any specific conditions. A process called "staircasing" allows shared ownership buyers to gradually increase their share of the property over time. Each time a buyer staircases, a new property valuation is required, and legal fees may apply. If property values have risen since the initial purchase, the cost of buying additional shares could be higher. Additionally, stamp duty—a tax on property purchases—may come into play depending on the total share owned. Selling a shared ownership property requires informing the housing association, who have a set period to find a buyer. If they are unsuccessful, the property may be put up for sale on the open market. An independent valuation is necessary, and extra legal costs may be involved. While shared ownership can offer a more affordable way to enter the housing market, especially for those who cannot afford a full deposit, Spencer emphasizes the importance of understanding all the associated costs and ensuring the scheme is suitable for individual circumstances.