A new startup based in the U.K., StrideUp, allows homebuyers to purchase a portion of their home and rent the remainder.
“Our typical customers are first time buyers in their mid/late 20s to late 30s. They have spent five-plus years renting and want to get on to the property ladder but traditional mortgage finance is unable to bridge the gap between where they want to live and what they can buy,” says founder Rohan Trivedi, per TechCrunch.
Shared ownership — where you and your landlord both own a percentage of the home you live in — is one solution to this problem. As and when you can afford to purchase more, you increase your stake at the current market valuation (and, in turn, reduce your rent), until eventually you own the home outright or can secure a conventional mortgage to do so.
