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SarahBell

Shared Ownership - Not Ha?

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http://www.rightmove.co.uk/property-for-sale/property-49098176.html

Shared ownership - any rules that say it has to be a housing association that owns the rest?

++++ 25% SHARED OWERSHIP ++++ ( enquire for further details )

I am assuming it's not a HA property as there are none that I know of on that road - they've all been private houses since built.

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A landlord out for a quick £30k to pay off the mortgage and reduced rent forever on a secured tenancy + no maintenance.

IMO you'd be better off renting a house and getting the landlord to undertake the maintenance. This is simply a con trick to shift liability and give the landlord a chunk of cash in their pocket.

If prices fell in this area then you would be no better than a tenant responsible for the maintenance.

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A landlord out for a quick £30k to pay off the mortgage and reduced rent forever on a secured tenancy + no maintenance.

IMO you'd be better off renting a house and getting the landlord to undertake the maintenance. This is simply a con trick to shift liability and give the landlord a chunk of cash in their pocket.

If prices fell in this area then you would be no better than a tenant responsible for the maintenance.

This seems to be how their will keep the ponzi going for longer than we think possible. Spoken to a few youngsters lately who seem to think that shared ownership is a good idea! :blink:

Anything to get onto that holy grail, the property ownership ladder!

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Like Sarah, some months ago I posted a similar thread about a house in my city that up for sale as 'shared ownership' like this.

It was once a council house that was sold under RTB in the previous 34 (or so) years. I wondered what happened in the interim for that house to offered for sale @ a %age share? :unsure:

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There's an article on property118 on the possibility of shared ownership schemes by private landlords http://www.property118.com/how-does-shared-ownership-work/63904/

One thought is that a housing assocation may have bought the house at some point. There's one house in my street of terraced houses which was bought by a housing association in the late 80s / early 90s and which it still owns. There's a large detached house two streets over which was bought at a later date by a housing association and converted into flats. Unless you talked to the neighbours or searched in the Land Registry, you wouldn't know who owned these two properties.

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Where I live there are lots of old period properties owned by or ex-HA, they tend to be leasehold flats and the HA owns the freehold. When sold the HA can then collect management fees (currently £5K per year) for all the flats they have sold but still own the freehold on. When they sell flats or apartments within a building, they never sell more than 49%, thus making it impossible for the private owners to ever band together and take over the freehold.

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