Title: Shared Ownership Schemes Post by: The Artist Formerly Known as Audrey on Saturday, December 3, 2022, 11:55:14 Anyone got personal experience?
Title: Re: Shared Ownership Schemes Post by: Batch on Saturday, December 3, 2022, 12:05:24 houses I assume.
A mate did it, but I don't know much other than he's paid off his mortgage side and now it's left with the rent side. any specific questions? Title: Re: Shared Ownership Schemes Post by: Wobbly Bob on Saturday, December 3, 2022, 12:15:49 Audrey might also be referring to shares in a race horse but we'll find out soon enough.
Too much information is not a bad thing. Title: Re: Shared Ownership Schemes Post by: The Artist Formerly Known as Audrey on Saturday, December 3, 2022, 12:20:23 Sorry. Should have been more specific.
Houses. A quick perusal seems they are overpriced compared to nearby equivalent houses, but they do have their attraction. We could pay outright for a, say, 60% share but that would be it. It’d be a renting commitment for the remaining 40% that we’d be stuck with. Plus, is a share of a house easy to sell if needs be? Title: Re: Shared Ownership Schemes Post by: tans on Saturday, December 3, 2022, 13:42:52 You can buy more percentage later on, my sister did that until they owned it 100%
Title: Re: Shared Ownership Schemes Post by: The Artist Formerly Known as Audrey on Saturday, December 3, 2022, 13:46:09 Tbh, once we bought 60% that’d be it.
Title: Re: Shared Ownership Schemes Post by: 4D on Saturday, December 3, 2022, 13:50:00 Can't you just buy a cheaper house outright?
Title: Re: Shared Ownership Schemes Post by: The Artist Formerly Known as Audrey on Saturday, December 3, 2022, 13:53:42 Cheaper house? You’re kidding, right?
We’re both retired now so income is fairly limited. Obviously no chance - or want - of a mortgage. Title: Re: Shared Ownership Schemes Post by: mystical_goat on Saturday, December 3, 2022, 13:55:13 Much more difficult to sell on, if that's a concern.
Title: Re: Shared Ownership Schemes Post by: The Artist Formerly Known as Audrey on Saturday, December 3, 2022, 13:57:59 That’s not such a problem for us as I’d hope it’d be our final move.
The boy and his family can sort that one out! Title: Re: Shared Ownership Schemes Post by: Jimmy HaveHave on Saturday, December 3, 2022, 14:33:40 It has to be a better option than renting plus you will hopefully make money on your investment.
Title: Re: Shared Ownership Schemes Post by: Bennett on Saturday, December 3, 2022, 15:34:14 I had a shared ownership flat in Swindon. It was alright initially but the housing association didn't know their arse from the elbow with nearly any question I asked of them. The monthly fee I paid to them for their management of the property kept going up. I shouldn't imagine that'd be the case with a house, but might be worthwhile clarifying if that's a static fee or likely to shift about and what the HA are on the hook for
Title: Re: Shared Ownership Schemes Post by: Steak supper on Saturday, December 3, 2022, 15:42:46 I think that houses can also have fees for the costs of managing the estate
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