Right, going into shared equity from full ownership - am I mad?

geoffky

ponder this http://www.insidehousing.co.uk/ihstory.aspx?storycode=6501770

chiki1

thanks, that certainly is something to ponder.

althought it's 3 years old, refers to shared ownership (not shared equity) and doesn't specify if the figures relate to england only or the uk (safe to assume it only relates to england though).

i'll certainly think twice about shared ownership, but i have no problems with LIFT.

but like any reviews on the interenet, you tend to only hear from people who are unhappy. all the happy bunnies out there aren't spending their time trawling internet forums gushing about how thrilled they are with their living arrangements. it's only the unhappy ones that want to vent.

i'm also not sure how much prices are goiing to fall in sought after areas. this isn't america with vast amounts of land and affordable housing can be easily found in decent areas. land is a very limited resource here, and there are some areas you just wouldn't want to live in. ever. find the right location i don't think you need to worry.....that's the name of the game in real estate, isn't it?

Newtie_Newt

Brit 1234, as I mentioned previously my flat was not a new build and therefore not subject to being so dramatically over valued. It is a Victorian maisonette and I purchased it (with a SE mortgage) for £20K less than other such properties in the area. It needed cosmetic improvements which are now completed (at a cost of 1K) and has now been valued at 30K more than it sold for. (However even I think this is over optimisitic!)

So although I do not 'own' 100% of it and will have to share any increase in value when I come to sell it is not the dire situation that you portray. It's not ideal but as I said I live and work in an expensive part of the country where I could not even afford to rent. What would be your alternative? If SE is the only option on a key worker's wages should all key workers and other people on lower wages move out of London and have to spend a couple of hours each day and a couple of thousands of pounds each year commuting to work in the capital instead?

London would just be full of wealthy people who either own or rent and people in social housing. No inbetweeners!