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ripp0n
Posts: 10 Forumite
Hi
Me and my girlfriend are currently renting a house together and feel as though the money we pay for rent etc isnt going anywhere as we are not gaining anything. We are both young (19) so understand that we won't get a mortgage but my mam mentioned something the other day that they are doing at a houseing estate near her called "Half Buy Half Rent" but she couldnt explain it very well.
Does anybody know what this is or is it something particular to this estate? Also could this be a way for me and my missus to get onto the property ladder?
All help much appreciated.
Thanks
Me and my girlfriend are currently renting a house together and feel as though the money we pay for rent etc isnt going anywhere as we are not gaining anything. We are both young (19) so understand that we won't get a mortgage but my mam mentioned something the other day that they are doing at a houseing estate near her called "Half Buy Half Rent" but she couldnt explain it very well.
Does anybody know what this is or is it something particular to this estate? Also could this be a way for me and my missus to get onto the property ladder?
All help much appreciated.
Thanks
0
Comments
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We are just buying our first house and looked into whats called shared ownership. From what we have understood is...you buy a % of the house with a small mortgage and then rent the other % of the local housing authority. after 1 year you can then buy more of a % but this is at the current market value NOT the value you bought the house at.
Hope this is helpful0 -
Have a look here, gives you loads of info
http://www.housingcorp.gov.uk/server/show/nav.549:j Baby boy Number 2, arrived 12th April 2009!:j0 -
Thanks 2 u both0
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Where do you live? If you are in or near London, take a look at www.housingoptions.org.uk as this is a site which coordinates all (?) the London housing associations which offer Shared Ownership. It is a very useful site and was instrumental in me buying my (40% of a) flat.
Even if you're not in London, the site has loads of useful info. As you will soon discover, there is more choice of Shared Ownership property if you are a keyworker or an existing Council/HA tenant, but there's still a fairly wide choice if you're not (I'm not).
Operation Get in Shape
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