Thank you for the question. It is not a scam no, obviously you are paying for the privilege of having your unowned 75% paid for by another company. However, this is how they make money, so if you are not in position to buy the property in full, you can use this method. People see it as a scam because yes, you are paying out money from your property to someone else, however they have to be remunerated for their share. It can be more difficult to sell as you will have to apportion them their collective right if the asset was to increase in value moving forward, however, ultimately it is up to you if you want to get on the ladder and this is the best way for you. Just ensure you read all terms and conditions and consider what these would mean in the future.
I shall provide you with a helpful link that will assist you in finding a solicitor/representative near your local area. This will provide you with someone nearby your area who can assist you if required.
I hope this information proved helpful. You will find a local solicitor who deals with these matters on the law society webpage which is as follows;
https://www.lawsoc-ni.org/solicitors (N. Ireland)
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