Shared ownership? Should I staircase / buy outright / neither

Meagain2024

About 18 years ago I purchased 55% of a house (mortgage) I should have paid off that 55% by Jan 25. 

The other 45% is owned by the housing association. I’m super fortunate because I was in an early tranche of SO houses and pay no rent on the remaining 45% - literally just £25 building insurance. So effectively when I have paid off my 55% I can live here for free! 

Which leads me to my question…..At the end of the year I can’t decide whether to 
A/ take out a mortgage for the other 45%

B/ save up the money and buy in chunks
C/ Don’t buy it at all but pay into a life insurance so when I die my kids can purchase the remaining 45%

The house is increasing in value yearly as we are in a sought after city. This obviously also means that the 45% will cost more in the future…

The lease is 99 years and the it becomes freehold if we buy 100%

I can’t find any financial advisor with a specialism in shared ownership. I’ve asked quite a few! If anyone has any thoughts on the above or a FA recommendation it would be much appreciated! 

Thank you 

ResourcesShared

Please check with your housing association if your children would be allowed to buy the remaining 55% share on your death. Usually beneficiaries have to sell a part-share so it can be sold on to someone meeting shared ownership eligibility criteria. (You don't 'own' the 55% share in the same way as you would if staircased to 100%; from a legal perspective it's a landlord and tenant arrangement until then. But it's good news that you can obtain the freehold on staircasing to 100%).

Meagain2024

This is really helpful, thank you, I’ll check the agreement. Tbh no one at the housing association knows anything as my agreement is so different to the ones they deal with now.