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shared ownership builders must be rubbing hands with glee
carefullycautious
Posts: 2,464 Forumite
In our area a development of new build shared ownership seem to be flying off the shelves. Talking with someone today who has relative in shared ownership who said that 2 houses had been released with over 2 hundred people on waiting list for them
Is this what is happening to our FTBs? Unable to purchase 100 percent so are drawn into these schemes
Also talking to local estate agents who said that the only people who seem to be buying are BTL landlords.
Is this what is happening to our FTBs? Unable to purchase 100 percent so are drawn into these schemes
Also talking to local estate agents who said that the only people who seem to be buying are BTL landlords.
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Comments
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Well, my partner and i are just starting to save £24,000 for our deposit. I suppose going for a shared ownership scheme with a deposit of about £5,000 is alot easier for some people to achieve.0
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Good luck saving the £24k. I know it'd take me about 40 years to get to that amount!Mortgage - £37k
Credit Card (A&L) -[STRIKE] £2300 -[/STRIKE] £1200
Santander Credit Card - [STRIKE]£1400[/STRIKE] £1100
[STRIKE]OD - A&L - £1300[/STRIKE] GONE!!!
"I will be debt free, I will be debt free!"0 -
carefullycautious wrote: »
Is this what is happening to our FTBs? Unable to purchase 100 percent so are drawn into these schemes
Also talking to local estate agents who said that the only people who seem to be buying are BTL landlords.
Its really scary that people are desperate to go for such a dodgy scheme now. However with prices being kept so artifically high its the only way ftb can buy. It will hurt them badly in the long run with them over paying for a property which has so many extra conditions and will be far harder to sell in the long run. Luckerly government funding for these scam schemes is running out and will be very much reduced after the election.
Personally I can't see where people will be getting the fiance for buy to let as it has been pretty dried up now and they need 25-35% deposits.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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can you clarify your post - are you saying that BTL are the only ones buying the shared ownership properties?0
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