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http://www.rightmove.co.uk/property-for-sale/property-46940573.html

This house was once a council house and at some stage a tenant exercised his or her RTB and in turn modernised it. Fair enough.

However, at what stage did this home become a 'shared ownership' house? And only purchase 25% of it at that (£34,625). No mention of what the rent is on the other 75%, so little bit 'smoke and mirrors'. :rolleyes:

The £35k share for this seems rather steep. In 1996 my sister bought the freehold of a similar sized ex council house for £39k!

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So it may be that it was built as part of a shared ownership housing scheme.

It was a council house when it was built prior to the 1950s (by the look of it). Shared Ownership has only been around since the 1980s.

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I vaguely remember one of the governments crazy bail out schemes a few years ago was enabling HA's to buy people's houses who were in mortgage arrears and let them stay in their house under a new HA shared ownership arrangements. Could this be one of them?

Edit. Found it. Google Mortgage Rescue Scheme.

Edited by bomberbrown

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I vaguely remember one of the governments crazy bail out schemes a few years ago was enabling HA's to buy people's houses who were in mortgage arrears and let them stay in their house under a new HA shared ownership arrangements. Could this be one of them?

Thanks bomberbrown, sounds about right to me. Probably what's happened with this house.

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In the 90's some HA's would allow do a shared equity scheme on any home, not just purpose built, especially if was living in a council house. So you could rock up to an EA, pick your house and the HA would go halves with you.....a member of my family did just this

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