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To Buy Or Not To Buy Are Pushing Shared Ownership!

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Shared ownership = you pay 65% of the full price and get 50% of the property.

Do you really think that it works this way?

(I know that there are big problems with shared equity, but I don't think that this is one of them)

tim

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Do you really think that it works this way?

(I know that there are big problems with shared equity, but I don't think that this is one of them)

tim

You mean you don't think they're stupidly overpriced?

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Do you really think that it works this way?

(I know that there are big problems with shared equity, but I don't think that this is one of them)

tim

If you don't think it works that way, show me a SO property that is marketed at the same price as any other similar property! I think you will struggle to find one.

Edited by wealthy

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Shared ownership = you pay 65% of the full price and get 50% of the property.

More like you pay 100% of the true value and recieve 50% of the property

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That place looks crap.

The deal looks crap.

Share ownership is crap

And boasting about a hip funky area - and you have to pay around a quarter of a million for the privledge - crap.

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Shared Ownership reminds me of "Brighthouse", that place you can buy the usual domestic appliances,

on really expensive interest rates!

I'm a tightwad, and my washing machine cost £20!

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Shared ownership really isn't that bad

I live in a 140k house, 50% mortgage 50% rent. My total expenditure being £550 for a 3 bed semi in a more than reasonable area

By my reckoning I have a good deal. I have a tracker mortgage paying 0.45 above base rate, and currently whacking money into capital repayments.

Now, you may say shared ownership homes are, by default overvalued and this is true, but when faced with unreasonable rental costs and the fact that my money is actually going somewhere, it's a good deal.

I suppose it depends on the actual deal you get, but shared ownerships don't deserve all bad press.

Sure I aim to move to a full mortgage and new gaff when I can afford it, building equity for the next few years is my plan ect.

But as it is I'm in no rush

There's an almighty correction coming, the Euro is about to implode, the UK is far from out of the woods, I'm sitting tight.

In my view, people buying now are either foolish or are in complete denial of near bankruptcy this country faces right now

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Shared ownership really isn't that bad

I live in a 140k house, 50% mortgage 50% rent. My total expenditure being £550 for a 3 bed semi in a more than reasonable area

By my reckoning I have a good deal. I have a tracker mortgage paying 0.45 above base rate, and currently whacking money into capital repayments.

Now, you may say shared ownership homes are, by default overvalued and this is true, but when faced with unreasonable rental costs and the fact that my money is actually going somewhere, it's a good deal.

I suppose it depends on the actual deal you get, but shared ownerships don't deserve all bad press.

Sure I aim to move to a full mortgage and new gaff when I can afford it, building equity for the next few years is my plan ect.

But as it is I'm in no rush

There's an almighty correction coming, the Euro is about to implode, the UK is far from out of the woods, I'm sitting tight.

In my view, people buying now are either foolish or are in complete denial of near bankruptcy this country faces right now

If the house drops by 25% is your loss 35k or 17.5k?

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17.5k campervan

It's a clear risk, but if my equity goes tits up i'm not alone. Not a huge sum, but shared ownerships enable less risk in my view

For anyone considering them though stay well clear of shared ownership flats etc, be very aware of the service charges that go hand in hand with these type of properties, they are non negotiable.

You see them everywhere on rightmove. I presume the property developers have simply given up home of selling them outright, they sell them on to housing agencies and the only real profit they make is on the monthy/yearly service charges.

The thing with leasehold seems to be extra hidden charges, cutting the fecking the grass etc....

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  • 143 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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