No. While many schemes are linked to new-build developments, some shared equity initiatives may also be available for certain properties on the open market, depending on the scheme rules.

In many cases, yes. However, the lender and equity loan provider may need to approve the new mortgage arrangements.

If the property increases in value, the amount owed to the equity loan provider will usually increase proportionally because repayment is often based on a percentage of the property’s current value.

Many schemes allow partial or full repayment of the equity loan before the property is sold, although conditions and valuation requirements may apply.

This depends on the scheme. Some shared equity arrangements offer an initial interest-free period, while others may charge fees or interest from the outset.

Yes. You own 100% of the property and are named on the title deeds. The equity loan provider does not jointly own the property but is entitled to recover its agreed share when the loan is repaid.