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Whilst under pressure from the missis,

we looked at rent to buy and also buying a 30% equity share in a property part owned by our HA. How do they have the nerve to sell this pile of poo?

Firstly, i said that i may not need a mortgage for my equity share - It's not possible to be a cash buyer for your equity share, you have to get a mortgage

You can also move in and live in one of the new builds for two years and pay rent whilst you save a deposit, that would mean giving up a secure tenure that i have at the moment with the HA, moving in on an two year unsecure tenure and praying the bank will give me a mortgage two years from now no matter the economic situation, if no mortgage is approved, your out on your ear and homeless.

I told her it was a ponzi. They also work out what share you have to buy, so my share would be around 42% and i would be sadled with a mortgage of £110,000

Even affordable housing is unafordable

THis country is a joke

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Shared equity is a great way to make money:

- builders make money now by overcharging for iffy property

- banks will make money from the mortgages

- housing authorities make money to justify their existence and overpay their staff

- lawyers will make money in 5-10 years in compensation claims for this scam, similar to the endowment scandals

Edited by mikthe20

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Firstly, i said that i may not need a mortgage for my equity share - It's not possible to be a cash buyer for your equity share, you have to get a mortgage

What a stupid policy. :angry: After all, if there is rent on the other share and services to pay then it is better NOT to have a mortgage to worry about.

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Shared equity is a great way to make money:

- builders make money now by overcharging for iffy property

- banks will make money from the mortgages

- housing authorities make money to justify their existence and overpay their staff

- lawyers will make money in 5-10 years in compensation claims for this scam, similar to the endowment scandals

Just about sums up this scam. I wonder how many have fallen for it to-date?

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  • 309 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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