Shared ownership

carefullycautious

Good question, I was wondering if you could buy say 75 percent with cash and then just have the rent to pay.

Also are you able to continue renting or do you have to purchase the 100 percent?

wigan_rl_till_i_die

Me and my girlfriend are in the process of buying one now (hopefully sign friday)

Now my job i'm a pro poker player so i cant get a morgage and my girlfriend earns 17k per year so this is perfect for us as we can only get a morgage off her wage

I'm sure there are plenty people wanting to get on the property ladder and not wasting money on rent and imo this is great for young couples who are in the same position as i am, i know people have diffrent views but for people like me it's a great thing to have as we dont just waste money on rent and in a few years time if we need a bigger house we have some capital behind us

wigan_rl_till_i_die

Sorry forgot to add we have got a morgage for 50% and rent the other half and the rent is nothing really

chez22

carefullycautious wrote: »

Good question, I was wondering if you could buy say 75 percent with cash and then just have the rent to pay.

Also are you able to continue renting or do you have to purchase the 100 percent?

I think it depends on the type of SO scheme. I live on a SO estate and a retired couple have just bought a house on my street. They have downsized, so bought 75% outright and are renting the other 25% indefinitely. There are no restrictions on who buys here, the only thing not allowed is sub-letting.

Layla_CK

I hope the HA aren't funny with us re the cash buying of the 25% share

We have just been and had a look around the estate, it's lovely and quaint, I reeeeaaalllly hope they approve us:j:j

Layla_CK

We have been accepted by Waterloo Housing Association :beer::j

Not sure what happens next, we are awaiting paperwork in the post.

Does anyone know what happens next with regard to choosing properry etc??