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Very Very Desperate Selling Gimmicks For Shared Ownership Ripoffs


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HOLA441

http://www.woodshouse.co.uk/index.htm

I pass this abomination every day on the train on the way into work. Now lets look at the figures.

Typical one bed flat is £360k (25% share is £90k). Minimum wage you need to have in order to qualify, AND be a key worker, is £32k PA.

Monthly net wage (no pension payments etc) = £1,980

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Mortgage IO (£525), rent (£550) and monthly service charge (£120) = £1,195

So that leaves you £785 a month to spend on council tax, electric/gas, food and luxuries/holidays. Not ideal but it's doable if you're thrifty. And remember, with an IO mortgage you're simply renting from the bank.

However, please don't get any deluded notion of owning ALL of your Luxury UK Slave Box....ohh no. Get that thought right out of your head this moment.

The monthly IO mortgage for the typical one bedroomed flat is £2,100 which is £120 more than you earn a month.

Welcome to third world Britain 2008.

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I think these are worse:

http://www.rightmove.co.uk/viewdetails-192...se&tr_t=buy

£157,000 for a 50% share of a shoebox with a view of a tower block and no garden parked on a tiny lot behind Stockwell tube station. They reckon these desperation traps are worth £315,000, in a market where ground floor flats with some outside space nearby in much better, leafier locations are not selling for £230,000.

Having walked past it doesn't look like 75% are inhabited like it says on the blurb, however some poor suckers have moved in. Poor poor bar-stewards.

Edited by Glittery Hoo Haa
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If you download the price list you'll see they've only found 13 @rseholes to sign up so far.

Our swish slavebox development on the old Edinburgh Royal Infirmary site is starting to come onto the market and the off-planners are starting to bale out already. Not (yet) on the 'shared ownership' market, these were orginally £250-£300K.

Norman Foster may be a great architect, but I wouldn't fancy a glass-walled slave box with the opposite properties <100' away.

Edited to add:

262808_a.jpg

I don't think I'd fancy the occupants of the flats opposite holding scorecards up to their windaes after witnessing a boudoir gymnastics session.

Edited by Radge
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What makes buying into these schemes even more ridiculous is that many housing associations run protected rental schemes for keyworkers. I know because I'm in one (£550 for a one bedroom flat in zone 2). Knowing that schemes like my own exist, and are far more sustainable (I hope eventually to have saved a deposit to buy outright when the market returns to normality, and then someone else will have the opportunity to live in my flat) who falls for this nonsense?

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Guest tbatst2000
I like the website.. the braless model at least makes looking at it a more pleasant waste of time.

I'd only be tempted if she was included in the price.

That's something I like about this forum, there's always someone who'll say what I'm thinking but can't quite bring myself to write down.

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Guest tbatst2000
I don't think I'd fancy the occupants of the flats opposite holding scorecards up to their windaes after witnessing a boudoir gymnastics session.

In New York City, telescopes outnumber people by 3 to 1 (they sell more per head of population there than anywhere else in the US apparantly).

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