Rent On First Step property there will be a monthly rent payment. Let's put some figures together to illustrate this. The mortgage contract is between you and the building society. If you fall behind on payments let them know. If financial difficulties cannot be overcome, it is possible that you could lose your home.
Many building societies offer mortgage protection plans in the event of redundancy.
It is worth looking into this option when taking out the mortgage. Rent and service charges Your Landlord can take action under the lease if you fail to keep up with these payments. This could also mean losing your home. In either case. if you get into difficulties please let us know so that we can advise you. There is a mixture of flats and houses for sale on Shared Ownership terms ranging from 1 to 3 bedroom in size and either New developments or Existing schemes.