Are the shared ownership schemes a good idea?

papercut1982

I would say no, see previous posts on our experience BUT saying that, we have 2 bed flat and we are only 27&34 with a 4 yr old.
We weren't really looking far ahead into the future when we bought here, now with a 4yr old we cannot think about another child as we only have two bedrooms.
The only way we could do this would be to move (more money, which would mean less money to go towards a new baby/time off work etc).
I can see the logic in a large house especially if you anticipate it being a long term thing. PLUS service charges on the houses I know of in Hants S/O houses are only about £20 a month, £68 cheaper than ours.
With regards to S/O being more £ than a full mortgage that isn't true, A full mortgage would have costed us about £350 a mth more than our joint rent/mortgage 3yrs ago on a 3.49 fixed rate with a £10k deposit.
A little advice, I know that they are finding S/O next to us VERY hard to shift, 3 out of 12 flats occupied since they were released last July. The H/A are allowing people on the register to rent until banks start splashing the cash and then you can buy if you like, maybe that is worth a try? just to see if it is what you want?

RoxieW

Kent reliance building society.
We've had a good shared ownership experience.