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SarahBell

Idiot Ftb Wanted

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Shared ownership is a brilliant idea! You buy 12.5% of a 1 bed flat and rent the rest. Then as you get older and your income increases you then put down a further deposit to buy another 12.5% then just repeat this until eventually you own the whole thing all to yourself!*

Of course if you're a 28 year couple at max earning potential this might not be such a good idea. And obviously you still need to be able to save for the next deposit after paying the rent and mortgage and bills.

(*subject to mortgage payable)

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I'm not sure how they get away with describing such places as 'for sale' as clearly all you're buying is the 'right' to keep paying rent.

Stop paying it and see just how much you've 'bought'. It's just like renting with a really large deposit.

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I'm not sure how they get away with describing such places as 'for sale' as clearly all you're buying is the 'right' to keep paying rent.

Stop paying it and see just how much you've 'bought'. It's just like renting with a really large deposit.

When you rent, the LL has to put right any problems for free. What is the situation with part ownership?

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Who buys shared ownership? It's the absolute worst of both worlds!

Loads of the sheep apply for these schemes. All the housebuilders are involved in such schemes to "help" FTB's and it remains the main policy of the new government (as it was the previous administration) unfortunately. :angry:

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What's to stop the person/entity that owns the other 87.5% of your flat from cranking up the rent once you're locked in?

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When you rent, the LL has to put right any problems for free. What is the situation with part ownership?

Interesting question - would you have to pay 12.5% of the bill?.

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It gets better, as well as having to service the 12.5% mortgage, there is also "Service Charge and Rent is £479.00 pcm"

I really don't see the point of owning 12.5% of a one bedroom flat, it hardly gives you bragging rights.

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What's to stop the person/entity that owns the other 87.5% of your flat from cranking up the rent once you're locked in?

Worse than that, you can't even walk away from the whole mess and cut your losses of your 12.5% 'deposit' without finding a greater fool to buy the place off you and pay the obliged rent no doubt? I could be wrong on this?

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In this glorious nation of ours, if you work hard and keep your head down for 25 years then you too can aspire to own one-eighth of a one bedroom flat in Manchester.

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Don't think i've seen anything less than 50% share anywhere in Birmingham. 12.5% what's the point.

A desperate dash for whatever little cash is left in the market?

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If this flat is sold a year down the line and its value has fallen by 12.5%, do both parties share the loss or does it all fall on the borrower?

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  • 276 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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