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Shared ownership
sazm20
Posts: 1 Newbie
I'm looking into buying a house or apartment under a shared ownership agreement. Are there any major long term an short term disadvantages to this?
Thanks
Thanks
0
Comments
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If I were you I'd sit tight and wait for interest rates to go up another percentage point. You'll be able to pick up an entire house then when prices start to fall without entering in to some hair brained scheme designed to prop up a housing market that is completely out of touch with fundamentals.0
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Hi. I have a shared-ownership flat. I guess the advantage is that you get a foot (or half a foot) on the first rung of home ownership when you might not otherwise. The disadavantage is that you continue to pay rent on the share you don't own, until you can afford to buy the remainder - at full market rate.
HTH4 May 2010
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