shared ownerships your thoughts

Wickedkitten

You could almost say that if you can't afford to buy 100% of a house, then you can't afford to buy a house.

llh189

I can afford it, and if there was goods deals with a 5 - 10 deposit required I would be laughing!

I suspect that many people who diss these types of scheme only actually had to come up 5 or possibly 10 % or maybe nothing at all as a deposit.

Exactly when Wickedkitten will you own 100% of your house 10, 20 years maybe - can't see that that makes you better than those who choose to take advantage of these schemes.

Maybe the only people who should be able to buy a home are those who can pay cash upfront! If that was the case then hardly anyone would ever own their own homes.

Cat695

llh189 wrote: »

I can afford it, and if there was goods deals with a 5 - 10 deposit required I would be laughing!

I suspect that many people who diss these types of scheme only actually had to come up 5 or possibly 10 % or maybe nothing at all as a deposit.

Exactly when Wickedkitten will you own 100% of your house 10, 20 years maybe - can't see that that makes you better than those who choose to take advantage of these schemes.

Maybe the only people who should be able to buy a home are those who can pay cash upfront! If that was the case then hardly anyone would ever own their own homes.

I'm glad to see you have been suckered into the trap

the thing is you won't own 100% of your house for the same time that someone who doesn't put down a large deposit.....but you will ALSO have to pay EXTRA money...THATS why they are a con and when you actually do the maths then you will see that.

llh189

You might as well have just called me stupid!

I have done the maths - mainly on the 13 or so years I spent have on rent with no gain!

While we are at it lets get a big stick and poke people who are 100% mortgages, interest only deals, those with secured loans on their properties, those people who have bought new sub standard houses with endless snagging lists, those people who don't have rainy day money that would cover their negative equity, those people who were in unstable jobs who took out mortgages, people who left their partners when they now can't afford their repayments....................

Would you like me to go on?

I take it Cat695 that you live in a utopian mortgage free house?

Fight_Club

Just keep telling yourself this and don't buy property:

The UK economy is going down the swanee and house prices will start to reflect reality shortly....
The UK economy is going down the swanee and house prices will start to reflect reality shortly....
The UK economy is going down the swanee and house prices will start to reflect reality shortly....
The UK economy is going down the swanee and house prices will start to reflect reality shortly....
The UK economy is going down the swanee and house prices will start to reflect reality shortly....

poppysarah

llh189 wrote: »

You might as well have just called me stupid!

I have done the maths - mainly on the 13 or so years I spent have on rent with no gain!
I take it Cat695 that you live in a utopian mortgage free house?

You've been renting for 13 years, then it's not been high house prices that have stopped you wanting to buy. You could by now have saved enough cash to put a really good deposit down.

Some people here do live mortgage free. It is unusual to buy a house outright for cash as a FTB but it does happen.

100% mortgage is only slightly less insane than 125%.

We are bailing banks out because of the mortgage lending mess.

Wickedkitten

llh189 wrote: »

I can afford it, and if there was goods deals with a 5 - 10 deposit required I would be laughing!

I suspect that many people who diss these types of scheme only actually had to come up 5 or possibly 10 % or maybe nothing at all as a deposit.

Exactly when Wickedkitten will you own 100% of your house 10, 20 years maybe - can't see that that makes you better than those who choose to take advantage of these schemes.

Maybe the only people who should be able to buy a home are those who can pay cash upfront! If that was the case then hardly anyone would ever own their own homes.

I suspect the people that diss these schemes are the people that have looked at the fine print and are thinking much further forward than "omg I must buy a house today and this is the only way that I'll be able to afford one"

This isn't a dig at you personally, but the housing market is going to be in a load of !!!! in 10 years because of some of these scams. Especially the ones where they will have to pay off the equity loan in 10 years.

Cat695

llh189 wrote: »

You might as well have just called me stupid!

I have done the maths - mainly on the 13 or so years I spent have on rent with no gain!

While we are at it lets get a big stick and poke people who are 100% mortgages, interest only deals, those with secured loans on their properties, those people who have bought new sub standard houses with endless snagging lists, those people who don't have rainy day money that would cover their negative equity, those people who were in unstable jobs who took out mortgages, people who left their partners when they now can't afford their repayments....................

Would you like me to go on?

I take it Cat695 that you live in a utopian mortgage free house?

Nope I live in Military Accom and I'm saving up for a house (I'm single)

They are a con because you pay the FULL amount for the house....with my deposit I will get off 20% of what your paying

How do I know....because I asked.....if you go on the scheme you will pay FULL price...if you don't use the scheme you will get a hefty discount.

(in my case it was 25k discount all because I had more than 10% deposit)

At the end of the day I don't care if you buy it or not, but if you buy it on one of these schemes you are paying more than if you wasn't and that is simple FACT.

Wickedkitten

Cat695 wrote: »

Nope I live in Military Accom and I'm saving up for a house (I'm single)

They are a con because you pay the FULL amount for the house....with my deposit I will get off 20% of what your paying

How do I know....because I asked.....if you go on the scheme you will pay FULL price...if you don't use the scheme you will get a hefty deposit.

(in my case it was 25k discount all because I had more than 10% deposit)

At the end of the day I don't care if you buy it or not, but if you buy it on one of these schemes you are paying more than if you wasn't and that is simple FACT.

Exactly, people keep going on about how they use the equity loan as a deposit but the thing with a normal deposit is that you don't actually pay that back, with these schemes you get a very large deposit that you also have to pay back.

Cat695

Wickedkitten wrote: »

Exactly, people keep going on about how they use the equity loan as a deposit but the thing with a normal deposit is that you don't actually pay that back, with these schemes you get a very large deposit that you also have to pay back.

Thank you

nicely pointed out they seem to forget that on top of their mortgage they will have to save a LARGE sum of money to beable to pay it back.