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Shared ownership - selling my half

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Comments

  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    brit1234 wrote: »
    1, What happens if you are not allowed to sublet?

    2, What happens if the other owner does not like the the new renter?

    3, What happens if there are void periods with renting, who pays the costs?

    4, What happens if prices fall further which are likely to happen?

    Apart from question 1, the other questions are just risk / reward questions that any business owner would have to research and answer themselves.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    brit1234 wrote: »
    Take the £4k while it is still on offer, you would be mad not to. Get on with your life and stop having this noose around you neck.

    Brit, the only reason you and the rest of the crashaholics post here is to scare people into selling too cheap with your lies.....

    Knock it off.

    You're giving people bad advice.

    If you want to debate house prices, keep it on the "debate house prices board".
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • brit1234 wrote: »
    1, What happens if you are not allowed to sublet?

    2, What happens if the other owner does not like the the new renter?

    3, What happens if there are void periods with renting, who pays the costs?

    4, What happens if prices fall further which are likely to happen?

    Take the £4k while it is still on offer, you would be mad not to. Get on with your life and stop having this noose around you neck.


    It depends how you look at it. Brit, you sound like a worrier!
    I would see it as a business opportunity as Cleaver points out.
    If your friend doesn't really have much choice in the matter as he went into the agreement with you and will also be looking at safeguarding his investment.

    Hamish is right- once you have paid off your half of the house you are gaining pure profit. How much of your half of the mortgage is left to pay and at what rate?
    If you decide to hang on to it until house prices are higher you may sell for a profit in the end and be able to use the equity for a place of your own.
  • brit1234
    brit1234 Posts: 5,385 Forumite
    Brit, the only reason you and the rest of the crashaholics post here is to scare people into selling too cheap with your lies.....

    Knock it off.

    You're giving people bad advice.

    If you want to debate house prices, keep it on the "debate house prices board".

    Hamish we have been on this board before the other one was created, before you were thrown out of house price crash forums and started trolling here.


    What lies are these?

    Is it a lie that there is likely a sub letting restriction with shared ownership?

    Is it a lie the house mate may not get on with a renter?

    Is it a lie that there may be void periods?

    This site is money saving expert forums, where people can debate how to get the most of their money. I am purely stating that I believe in the current environment he should cut his loses and take the £4k before he loses more.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    brit1234 wrote: »
    I am .

    No Brit, you're trying to scare people into not buying houses.

    Because you want a crash to happen.

    Knock it off. You're giving bad advice.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    brit1234 wrote: »
    we have been on this board before the other one was created,.

    And it was created specifically to stop you from posting here.

    Take a hint.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • Jimmy_31
    Jimmy_31 Posts: 2,170 Forumite
    No Brit, you're trying to scare people into not buying houses.

    Because you want a crash to happen.

    Knock it off. You're giving bad advice.

    And you are constantly trying to scare people into buying houses by giving them bad advice day in day out.
  • The OP already has a house... he is asking for advice on what to do with the equity he has gained over the last four years.
    If I was in his position I would rather not have go to live with my parents and start saving for a deposit all over again.
  • brit1234
    brit1234 Posts: 5,385 Forumite
    No Brit, you're trying to scare people into not buying houses.

    Because you want a crash to happen.

    Knock it off. You're giving bad advice.

    Hamish you have the vested interest in keeping prices high with your buy to let portfolio and repeated ramping posts.

    Do you really think I am single handily going to cause the housing market to crash with my posts? Get real. :rotfl:

    Ok you may not see the housing bubble and the weak limbs supporting it but it doesn't mean a lot of us are wrong as we can see the vulnerabilities.

    I will say again this is money saving expert forums with the focus on money saving not house price ramping.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • zappahey
    zappahey Posts: 2,252 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The OP already has a house... he is asking for advice on what to do with the equity he has gained over the last four years.

    Does "gained" mean something else in your dictionary?
    What goes around - comes around
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