We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Shared Ownership with Notting Hill Housing
thequant
Posts: 1,220 Forumite
After reading the advice here and my own experiences of previous living in a shared ownership property (although I was on the rent now buy later deal which I never followed through) I realised that shared ownership is on outright scam for the following reasons.
1) the upfront outright property price is way overpriced.
2) the freeholder will screw you over on the service charge by increasing the charge way over inflation and by giving a deteriotaing "service" over time
3) these properties can be a nightmare to offload when you want to sell them.
Anyway I've seen a property through the nottinghill housing trust which i think may address these concerns.
1) the property is a flat in a converted house (hence not new build) and the property is properly priced
2) as the flat is in converted house the service charge is quite low and as its NHHT and not a developer,I dont think they will try and hike uo the services charges over time.
3) NHHT has a resale service and the properties do seem to come under quite quickly.
Anyone had any experiences with them and am I right in my assumptions about them ?
1) the upfront outright property price is way overpriced.
2) the freeholder will screw you over on the service charge by increasing the charge way over inflation and by giving a deteriotaing "service" over time
3) these properties can be a nightmare to offload when you want to sell them.
Anyway I've seen a property through the nottinghill housing trust which i think may address these concerns.
1) the property is a flat in a converted house (hence not new build) and the property is properly priced
2) as the flat is in converted house the service charge is quite low and as its NHHT and not a developer,I dont think they will try and hike uo the services charges over time.
3) NHHT has a resale service and the properties do seem to come under quite quickly.
Anyone had any experiences with them and am I right in my assumptions about them ?
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards