longtomsilver Posted December 6, 2010 Share Posted December 6, 2010 Say someone purchases 70% of a house and the remainder is rented through one of these shared ownership vehicles. What happens if the boiler breaks down. If I were paying rent on the 30% and the boiler broke then i'd only think it fair that the landlord pays their share of the cost. I had two burst pipes last week and as a renter got the landlord to pay. I could have fixed them myself for less than £20 however it was cold and I didn't feel like spending my own money. Quote Link to comment Share on other sites More sharing options...
PbroAgent Posted December 6, 2010 Share Posted December 6, 2010 You pay the whole lot. Imagine them like a second mortgagee. Quote Link to comment Share on other sites More sharing options...
Little Professor Posted December 6, 2010 Share Posted December 6, 2010 (edited) Say someone purchases 70% of a house and the remainder is rented through one of these shared ownership vehicles. What happens if the boiler breaks down. If I were paying rent on the 30% and the boiler broke then i'd only think it fair that the landlord pays their share of the cost. Under shared ownership you get the responsibilities of being an owner-occupier along with the restrictions of being a tenant. If the boiler breaks down, then you have to pay the full cost of repair yourself, as with all the other maintenance bills. Yet if you want to do something to improve your home like build an extension, you need to get the housing authority's permission. Edited December 6, 2010 by Little Professor Quote Link to comment Share on other sites More sharing options...
longtomsilver Posted December 6, 2010 Author Share Posted December 6, 2010 thanks guys... so it's like the worst of both worlds if your the 'owner' and best of both worlds if your the 'landlord' - sounds even worse that a leasehold, don't tell me they are leasehold also Quote Link to comment Share on other sites More sharing options...
PbroAgent Posted December 6, 2010 Share Posted December 6, 2010 thanks guys... so it's like the worst of both worlds if your the 'owner' and best of both worlds if your the 'landlord' - sounds even worse that a leasehold, don't tell me they are leasehold also Not exactly but your solicitor will charge you extra conveyancing costs like it is! Quote Link to comment Share on other sites More sharing options...
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