Shared Ownership without mortgage

rockall81

Hello,

I was thinking of going for a 1 bed flat, with 60% shared ownership with current vendor and 40% owned by builder.

I will not need a mortgage for this type of buying, as i am rejected twice by two banks on my first atttempt buy a house and now i have no confidence left to go through a mortgage application again (atleast in near future.)

Just wanted to know whether 60% resale of shared ownership without mortgage is possible?

Thanks for the help in advance.

Thrugelmir

Shared ownership is part buy / part rent. Where the money is derived from to buy the property doesn't matter, in terms of cash or mortgage.