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so what is the difference to keep on renting
You get total security, so long as you pay the mortgage and rent no one can kick you out. Plus you get your %age of any rise in value if you sell.
They're a bit of a faff to sell on as you have to take a surveyors valuation and often give the housing association a month to find a buyer before you can put it on the open market but other than that, and the fact you pay 100% of any repairs and upgrades and only get 40% (or whatever) of the benefit, the system can work well for people in your situation. Especially if you reckon you'll live there long term.
There are various schemes, the best ones are the ones that will allow you to staircase to 100% ownership. Lots are now limited to 80% and mortgage companies aren't keen on that so they're tougher to sell.
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Hefty
@ExTra
I am just thinking I would like to ideally remain in the same area, Camberwell / Brixton / Peckham, which buying outright is completely out of the question, part ownership of 25-30%, or maybe a bit higher means I only have to take out a small mortgage, but judging from the actual 100% value of any of the property I have looked at, it'd be at least my next life before I can afford to buy it off, so what is the difference to keep on renting and hoping my landlady doesn't ever turn completely greedy... Renting means if something goes wrong, she pays for it... which I quite like...