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Shared ownership scams
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the_flying_pig wrote: »the sad thing is that any they do sell will be to the very most vulnerable/gullible.
It's worse that that - the sad thing is that the sensible (us!) will suffer because the gullible idiots that you mention will keep the prices high and everyone suffers then..Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
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PasturesNew wrote: »Cornwall, nice enough area, less than 1 mile to a beach. In an area where jobs exist, allbeit low pay jobs, they do exist.
I can prove it, with links, but not going to as I want to keep this secret corner all to myself
Oh, I thought Cornwall had gone all expensive.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Oh, I thought Cornwall had gone all expensive.
I just peeked and the £75k one sold in 2007 for £125k.
Where's the 70% club ... they might want to toast that. It's 40% down from it's peak ... and been on since April (£90k), reduced to £75k earlier this month.0 -
I'd love to move to Cornwall if it wasn't for the lack of jobs and family distances.
Cheers for all your comments on this guys, good to see I am not alone in my thinking.
I never did phone them, but I bet they are getting excited about all the hits they're getting on Rightmove0 -
Golden.
I just rang them and she actually said they have a premium on them because they are shared ownership.
The rent on the other 75% is £24 a week (so she said?? Seems rather low to me for £270,000 worth of a property!) which I guess would make it not too bad in terms of cost per month. The fact that you would eventually need to buy back the property at a vastly increased price would be a total no dealer though.
There is also a service charge on top, which she did not know off hand.
Sounds like total rubbish to me. A premium for an affordable home ownership option. Rediculous!0 -
Golden.
I just rang them and she actually said they have a premium on them because they are shared ownership.
The rent on the other 75% is £24 a week (so she said?? Seems rather low to me for £270,000 worth of a property!) which I guess would make it not too bad in terms of cost per month. The fact that you would eventually need to buy back the property at a vastly increased price would be a total no dealer though.
There is also a service charge on top, which she did not know off hand.
Sounds like total rubbish to me. A premium for an affordable home ownership option. Rediculous!
The rent could well be correct because some older SO properties had clauses restricting increases above inflation/ RPI etc. I paid around £80 per month rent including the service charge (although my property was worth half the ones listed).
My SO experience was very positive - I paid a ridiculously low amount each month for a very nice property. I also made a 100% profit when I sold. The next owners sold at a loss, and the price still has not recovered. It works for some people!Gone ... or have I?0 -
PasturesNew wrote: »It has, but every now and again there are places that nobody wants to own, wouldn't make for a good holiday home or let.... and so now, in these 'down times' ... there are some 2-up-2-downs to be had.
I just peeked and the £75k one sold in 2007 for £125k.
Where's the 70% club ... they might want to toast that. It's 40% down from it's peak ... and been on since April (£90k), reduced to £75k earlier this month.
I am going to give you a chinese burn if I ever meet you...
& I will keep doing it until you submit & give me everything you know....Not Again0
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