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  • FIRST POST
    • liguolong
    • By liguolong 19th Mar 17, 10:53 PM
    • 2Posts
    • 1Thanks
    liguolong
    shared ownership
    • #1
    • 19th Mar 17, 10:53 PM
    shared ownership 19th Mar 17 at 10:53 PM
    Hi All,
    I am considering buying a property using NewShare scheme, a scheme similar to shared ownership where I buy at least 25% of the property and pay 1.75% rent for the remaining equity. My questions are:
    Would the price be negotiable?
    As the property is new build, would it make sense for me to just buy the minimum share and wait for some years before staircasing to pay less new build premium?
    If we decide to staircase later, would it make sense to ask say 3-4 surveyors and take the cheapest one? How accurate are these surveyors usually?
Page 1
    • deannatrois
    • By deannatrois 20th Mar 17, 2:45 AM
    • 4,842 Posts
    • 6,789 Thanks
    deannatrois
    • #2
    • 20th Mar 17, 2:45 AM
    • #2
    • 20th Mar 17, 2:45 AM
    So far I've only found websites offering this scheme in Newham and you have to buy a 50% share.., and be a keyworker, living or working in the borough or on the housing waiting list to qualify http://site-sales.co.uk/newhamnewshare/.

    The properties aren't cheap.

    I've yet to see one property that mentions NewShare rather than Help to Buy.., but I could well be missing something.

    I think you might be better off speaking to people running the scheme itself rather than on here. It sounds like quite a new thing, might not be much information out about it. Although I wait to be corrected lol.
    Last edited by deannatrois; 20-03-2017 at 2:50 AM.
    • liguolong
    • By liguolong 20th Mar 17, 8:33 AM
    • 2 Posts
    • 1 Thanks
    liguolong
    • #3
    • 20th Mar 17, 8:33 AM
    • #3
    • 20th Mar 17, 8:33 AM
    Thanks, I did spoke to people from site sales. They said we can just buy 25% share because we are living in Newham. We asked if the prices are negotiable, they said no. We asked if the new build premium would drop as we live in, he said a new build after 10 years is still new build. I am not sure how much I should believe what he says.
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