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SarahBell

Natural Progression Of Shared Ownership

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You can buy various levels of shared ownership.

75%, 50%, 25%

As prices aren't falling very much (Well apart from some poor suckers on MSE who are now in NE and can't sublet their SO flat)

will shared ownerships continue and will the % shrink?

Will your grandchildren be buying "their own house" on a 5% share basis?

Will their grandchildren be buying "their own house" on a 1% share basis?

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You can buy various levels of shared ownership.

75%, 50%, 25%

As prices aren't falling very much (Well apart from some poor suckers on MSE who are now in NE and can't sublet their SO flat)

will shared ownerships continue and will the % shrink?

Will your grandchildren be buying "their own house" on a 5% share basis?

Will their grandchildren be buying "their own house" on a 1% share basis?

Personally I would like to see something along the lines of a petition, to sign, to Government from First Time Buyers, pledging NEVER to buy Shared Ownership properties.

Then added as a STICKY to the main forum page.

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What, if any, are the advantages of shared ownership over renting? The only one I can think of only works if you believe the "House prices only ever go up!" nonsense, which in any case just makes things even worse long-term shared ownership or not. Oh, and I suppose it's a bit more secure than renting.

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I bought my house in 1992 on a shared ownership deal , it was the only way i could afford it with double digit interest rates.

I bought the other 25% in 1996 when the house was worth less. It worked out very well for me.

Edited by headrow

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I bought my house in 1992 on a shared ownership deal , it was the only way i could afford it with double digit interest rates.

I bought the other 25% in 1996 when the house was worth less. It worked out very well for me.

I dont doubt it. Considering your house will have tripled in value since 1996...........

Even if your home lost 50% off its present valuation, you would still be sitting on a HUGE profit.

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I bought my house in 1992 on a shared ownership deal , it was the only way i could afford it with double digit interest rates.

I bought the other 25% in 1996 when the house was worth less. It worked out very well for me.

I supposed in a broad sense every model can fit some people and not others, you're proof of this. In 2005 I looked at a Shared Ownership scheme and the numbers didn't add up. In hindsight had I gone ahead I'd have been financially crippled when the crash kicked off in 2008.

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I supposed in a broad sense every model can fit some people and not others, you're proof of this. In 2005 I looked at a Shared Ownership scheme and the numbers didn't add up. In hindsight had I gone ahead I'd have been financially crippled when the crash kicked off in 2008.

same here

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I supposed in a broad sense every model can fit some people and not others, you're proof of this. In 2005 I looked at a Shared Ownership scheme and the numbers didn't add up. In hindsight had I gone ahead I'd have been financially crippled when the crash kicked off in 2008.

same here

Me too, add into the poor build quality of these properties and shoe box proportions, and then look again at the price, it was pure madness.

it was all the additional charges they kept adding on, that made me laugh and walk away

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I am in the ultimate shared ownership position - the landlord owns 100%, I own nothhing. Then again, I own 0% of all the upkeep costs of the house.

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I bought my house in 1992 on a shared ownership deal , it was the only way i could afford it with double digit interest rates.

I bought the other 25% in 1996 when the house was worth less. It worked out very well for me.

Were there such things as shared ownership in 1992? :unsure:

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I bought my house in 1992 on a shared ownership deal , it was the only way i could afford it with double digit interest rates.

I bought the other 25% in 1996 when the house was worth less. It worked out very well for me.

You were lucky to get this deal

Most shared ownership schemes of that era had a "no decrease in value of unpurchased share" clause.

tim

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Personally I would like to see something along the lines of a petition, to sign, to Government from First Time Buyers, pledging NEVER to buy Shared Ownership properties.

Then added as a STICKY to the main forum page.

You can set one up at http://www.pledgebank.com/ easily enough.

I would go for something like 'I pledge to not purchase through shared equity and write to MP with my reasons why if 10,000 other people do'.

With something on why shared equity is such a bum deal.

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  • 312 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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