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FTB negotiations on new build
Comments
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Oh, how lovely a seafront Brighton flat - good luck to you both
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I bought my key worker house 3 years ago on a shared ownership scheme.
On the plus side you have to look at the fact you are not taking all the risk - the housing association takes half the risk on the 50 percent share they own.
I got a brand new house in a lovely area for less than I would pay in rent. Yes you will not realise the full rise in price of the property (if any) but I have used the fact that my mortgage is quite low to my advantage, and overpay each month, as well as decreasing the term. This means I have more equity than I would if I mortgaged the whole thing.
I dont know why people have a problem with shared ownership. It is simply a mortgage on one half - you would still not own it if you mortgaged the whole lot and would be paying much more in interest.
I say go for it, you would be paying more for rental. I could not negotiate with my house, but you may be able to.
Good luck:j0
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