Buying shared ownership property.

*Sparkle*_3

Hello

I brought a shared ownership property just over 3 years now at 50% share, i would have never been able to geton theproperty ladder if it wasnt for the shared ownership.
I am now buying the other 50% and there isn't any other extra costs a previously mentioned, perhaps it depends on the housing association.
I'm with https://www.mho.co.uk and i do recommend them.
In my opinion ithink paying half rent and half mortgage is a lot better than just paying rent!
It gives a lot of people the chance to get onto the property ladder who wouldnt have been able to otherwise.
I know have over £29,000 in equity! If i hadnt of done the shared ownership i prob would have been still renting!

So i'd say go for it, one thing to be aware of is service charges if you are buying a new property,these are normally estimated and could go up in furture years.
Services charges would only be applicable for flats,etc.

Jorgan_2

*Sparkle* wrote:

Hello
Services charges would only be applicable for flats,etc.

Houses in gated developments or those that have external communal areas may also be liable to service charges.