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Author Topic: Shared Ownership Schemes  (Read 1059 times)
The Artist Formerly Known as Audrey

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« on: Saturday, December 3, 2022, 11:55:14 »

Anyone got personal experience?
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« Reply #1 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?
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Wobbly Bob

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« Reply #2 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.
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Why don't you knock it off with them negative waves? Why don't you dig how beautiful it is out here? Why don't you say something righteous and hopeful for a change?
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The Artist Formerly Known as Audrey

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« Reply #3 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?
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tans
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« Reply #4 on: Saturday, December 3, 2022, 13:42:52 »

You can buy more percentage later on, my sister did that until they owned it 100%
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The Artist Formerly Known as Audrey

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« Reply #5 on: Saturday, December 3, 2022, 13:46:09 »

Tbh, once we bought 60% that’d be it.
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4D
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« Reply #6 on: Saturday, December 3, 2022, 13:50:00 »

Can't you just buy a cheaper house outright?
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The Artist Formerly Known as Audrey

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« Reply #7 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.
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mystical_goat

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« Reply #8 on: Saturday, December 3, 2022, 13:55:13 »

Much more difficult to sell on, if that's a concern.
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The Artist Formerly Known as Audrey

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« Reply #9 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!
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Jimmy HaveHave

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« Reply #10 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.
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Bennett
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« Reply #11 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
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This is the water.
And this is the well.
Drink full and descend.
The horse is the white of the eyes and dark within.
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« Reply #12 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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