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Shared Equity Question
Mr.Brown_4
Posts: 1,109 Forumite
My mates and I are pretty broke, but if we pooled our resources we could probably afford a tenth share in a shared equity house. Does anyone know if you can get that small an equity amount?
Plus, and this might seal the deal, if you are in shared equity you're renting as well. So if you just say stuff the rent what happens? They can't kick you out of the house because you own part of it? Can you just stay living in the tenth part that you own, say a bedroom or something?
Plus, and this might seal the deal, if you are in shared equity you're renting as well. So if you just say stuff the rent what happens? They can't kick you out of the house because you own part of it? Can you just stay living in the tenth part that you own, say a bedroom or something?
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Comments
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You won't be able to buy such a small share it is usually upto the housing association that provide the affordable housing but I would assume 50% would be the min.
When you but your share you will sign to say that the house can be respossessed if you do not pay the rent.
Nice idea though.0 -
You can buy 25% shares in property and I just think it's a massive con. Even 50% is silly.
Buy a whole house or don't buy at all.
Madness keeping the house prices high.0 -
Someone's satnav on the blink...Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.0
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