Shared Ownership Mortgages

stupndus

brit1234 wrote: »

Why not save a bigger deposit and get a normal house.

I looked at both shared equity and shared ownership a few years ago and the sums didn't add up. I'm now more aware how builders and housing associations use them for there profit rather than that of the first time buyer.

Shared ownership is a scam.

If its you OPINION then that fine... however, if the sums dont add up then I would be very interested to see the sums. I have provided you details of my analysis, if you want to add something useful, I would be appropriate to backup your OPINION with facts to make it more believable.

if,
Mortgage (repayment) + rent <= rent,
then
in current environment (atleast in London and surrounding areas) shared ownership would always be better.

Obviously, 100% mortgage would beeven better however, if you cant afford it (for one reason or another) then go for shared ownership.

brit1234

stupndus wrote: »

Obviously, 100% mortgage would beeven better however, if you cant afford it (for one reason or another) then go for shared ownership.

How would a 100% mortgage be better? Why can't you save a deposit like everyone else. You look very reckless with money.

Have you inputted a 20,30, 40% price fall in your overpriced shared ownership property into your sums?

Have you inputted all the additional fees into your sums?

Why not save while renting. House prices are falling, as you save longer the more house prices would of fallen.

leveller2911

stupndus wrote: »

Obviously, 100% mortgage would beeven better however, if you cant afford it (for one reason or another) then go for shared ownership.

So what happends in say 20 years time when people can't even afford to buy 25%?....... The probelm is the price of houses compared to earnings.I live in the SE and keep a close eye on house prices and I can say with some accuracy that in the last 10 years wages have risen about 25% whereas house prices have risen by around 250% so I'm afraid its unsustainable.

garreh

brit1234 wrote: »

Firstly please don't abuse our head of state, you may not hold her in high regard but that does not give you the right to be so vulgar on a public forum.

Since when is being a transsexual vulgar? I would of thought in today's society people would be more open minded and, I'm sure, there are some transsexuals reading this forum and would not take kindly to you referring to them as vulgar. Likewise I understand that she is our sovereign and some might be offended by the absurd idea of her "having a sausage" as it were, but I highly doubt anyone is going to take that comment seriously, even if they have an ounce of humour.

Understand it was an absurd comment to make you realise how you sound when you make such bold claims without backing it up without any evidence.

For example I see you have in your comment "first time buyer striker" -- have you bought a property or are you just talking form a researcher perspective?

WelshNic

Having a sausage :rotfl:

zappahey

leveller2911 wrote: »

So what happends in say 20 years time when people can't even afford to buy 25%?....... The probelm is the price of houses compared to earnings.I live in the SE and keep a close eye on house prices and I can say with some accuracy that in the last 10 years wages have risen about 25% whereas house prices have risen by around 250% so I'm afraid its unsustainable.

You're pretty well making Brit's argument. It's schemes like shared ownership that are helping to make it sustainable.

Consider the alternative that, without shared ownership, the price would have to drop to an affordable level.

Shared ownership merely artificially inflates demand.

Anyway we're drifting towards the territory of the Debate forum, so I'll stop there