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Shared Ownership - of sorts!!
Mylo1000
Posts: 2 Newbie
Hi all
We wife has been living in our shared ownership flat (60%/40%) for the past five years without having to pay any rent for the 40% share. Shamefully, I havent really taken much interest but we are now considering moving and it has just come to my attention.
I have never heard of such a deal and I was wondering if anybody else knows anything on the matter? The obvious thing would be to contact our Management Company but I'm trying to avoid do so in case it has been an oversight on their part and they hit us with a bill for about five grand!!
Many thanks
Mylo
We wife has been living in our shared ownership flat (60%/40%) for the past five years without having to pay any rent for the 40% share. Shamefully, I havent really taken much interest but we are now considering moving and it has just come to my attention.
I have never heard of such a deal and I was wondering if anybody else knows anything on the matter? The obvious thing would be to contact our Management Company but I'm trying to avoid do so in case it has been an oversight on their part and they hit us with a bill for about five grand!!
Many thanks
Mylo
0
Comments
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Don't you have any documents? It seems highly unlikely for a commercial company to forget to collect money?0
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Can you name the organisation it's with ... there are many different schemes out there that could seem to work like that.0
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Def dig the paperwork out and have a look.
There are schemes that involved a loan repayable after so many years for the other bits - what's going to be worse: them asking for back dated rent, or for a huge chunk of money?0 -
This is the problem, I wasnt around at the time that my now wife sorted the mortgage. While she does have copious amounts of paperwork there isn't really anything to explain the contract that she has with the organisation - which is Hyde by the way.
She must have signed something with them at the time but she swears blind that she doesnt remember doing so. All very strange!!
I think you are right Poppysarah - we are going to have to bite the bullet and contact Hyde.
Cheers0
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