New homes provider Bromford is debunking shared ownership myths in an attempt to raise awareness about this route onto the property ladder.

Operating out of Oxfordshire, Bromford provides shared ownership homes which can offer a lifeline for first time buyers and those unable to own a property outright.

Shared ownership allows those purchasing a home to pay a mortgage on the share they own while paying rent for the remaining share, reducing the initial deposit required.

Catherine Jarrett, director of Sales and Marketing at Bromford, said: "Time and time again, shared ownership has proven to be the method of choice for more and more people when attempting to get onto or climb the property ladder.

“Despite this, misinformation and myth still surround the scheme and its various benefits. We hope that by addressing these common misconceptions that many will understand the importance of Shared Ownership and how it can give a route to owning a home for those who may otherwise not have been able to."

Bromford has highlighted five common myths surrounding shared ownership, such as its supposed exclusivity to first-time buyers, constraints on selling or type of home available, the need for a larger deposit, and inability to ever own the home outright.

The truth, says the provider, lies in the flexible nature of the scheme, the variety of home types, and the potential for 100 per cent ownership through a process known as 'staircasing'.