NTFS as Ubuntu home directory

That sounds like a bad idea. Yes you can, but you should realize that NTFS support in linux comes with this caveat:

Due to the complexity of internal NTFS structures, both the built-in 2.6.14 kernel driver and the FUSE drivers disallow changes to the volume that are considered unsafe, to avoid corruption.

which is partly due to:

Details on the implementation's internals are not released, which makes it difficult for third-party vendors to provide tools to handle NTFS.

I mount an NTFS volume on linux, and I've had a problem in the past when the filesystem would not mount properly on linux, even with the -f (force) option. I had to finally attach it to a Windows machine and boot up into Windows, which fixed it.

If you absolutely need a native Windows-readable filesystem for /home, my preference would be to format it as fat32 instead. Despite its limitations, it has better support on linux.

Even moving files between Linux filesystems and fat32/ntfs causes lots of warnings about permissions and ownerships. You'll definitely have problems with an ntfs /home. First thing that won't work will be ~/.ssh, .netrc and other files/directories with restricted permissions. Other programs will definitely have errors when they cannot change the permissions on configuration files. (dotfiles)