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Should I buy more of my shared ownership, or stick to renting?


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Interesting thread. 

One thing that strikes me is that the OP is paying rent on the equivalent of a much cheaper property. The market rent forb your share of the property should be about £1100 pm (or £1450 for the entire property). In that sense you have a bargain. 

However, if you keep compounding your rent at 2%for 40 years (ignoring inflation) the your rent will be the current equivalent of £1500 per month. In 20 years time it will be the equivalent of £1000 pm. Ouch. 

It may therefore be better to pay off more of the mortgage if you want to stay out. Alternatively you could sell up and move as others suggest

If you were able to rent the property for the full market value and live elsewhere you could post off quite a lot of the loan, but I doubt that is allowed.

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On 4/2/2019 at 9:31 PM, spyguy said:

Probably includes a Somali family of 10 next door too.

Nope your wrong. Most early shared ownerships were the same as private ownership and only for Priority workers, police, doctors nurses , teachers etc - 20-25% of all new build flats at that time being offered to these workers on shared ownership. 

Impossible to tell which are private and which are shared ownership. Plus  In London a great number of private new builds are buy to rent as a way of saving up for a pension. These are rented to  families who may or may not be on Housing Benefit. so not sure where you got the facts from for your argument.  

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