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Shared Ownership question?
tazwhoever
Posts: 1,326 Forumite
Shared Ownership question?
If I can buy the minimum share of 2 beds flat completely (ie) 25% and pay rent on 75%. In the future, If I lose my job, can I claim HB or LHA to pay rent on 75%?
What the lease like on this flats 99 or 999 years?
If I can buy the minimum share of 2 beds flat completely (ie) 25% and pay rent on 75%. In the future, If I lose my job, can I claim HB or LHA to pay rent on 75%?
What the lease like on this flats 99 or 999 years?
0
Comments
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How do you pay your mortgage on the 25% ?."An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
tazwhoever wrote: »If I can buy the minimum share of 2 beds flat completely (ie) 25% and pay rent on 75%. In the future, If I lose my job, can I claim HB or LHA to pay rent on 75%?
I have known this to happen, though council staff may be unclear re what to do in this situation and you may be dependent on the discretion of the decision-maker to an extent.
As well as how to pay the 25% mortgage if you lose your job, you'd need to consider how you'd pay things like service charge, buildings insurance and any essential repairs.0 -
Service charge and ground rent (but not buildings insurance) can be supported through the SMI system, but note that there is a thirteen week waiting time. IIRC you have to have owned your property for a certain period before you can claim.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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