New Build Homebuy - negative equity clause?

Flower83

We bought a newbuild homebuy home 2 years ago, as we felt this was the only way we could afford to get on the property ladder. Back then we were able to get a 100% mortgage, so we must be in negative equity at present.

We own a 40% share in the property and feel that the £450 per month rent we pay is quite a lot - and this will only keep going up every April. Because we earn a bit more now, we want to look in to the possibility of staircasing to purchase the property in full as we do begrudge paying all that rent. Would we be buying the remainder at a cheaper price, as a reflection of the market? Would we need a deposit to buy the remaining share and also has anyone heard of a negative equity clause with part buys, part rents? Thanks

poppy10_2

Flower83 wrote: »

Would we be buying the remainder at a cheaper price, as a reflection of the market?

You need to check your original contract documentation - every deal is different