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Shared Ownership

SuzyPtang
SuzyPtang Posts: 1 Newbie
in Mortgages & endowments
I am employed full time and my partner is currently unemployed but doing a 9 month course to become an electrician. We are renting at present but we will be moving out in May and my plan was to rent for another year, but then got to thinking about shared ownership, I pay £750 a month for the rent at the moment so I know I can afford the shared ownership monthly payments on my own for 9 months.

Has anyone got experience in Shared Ownership? Is it s good idea for someone that would not be able to get a mortgage on there sole salary

Thanks

Comments

  • kingstreet
    kingstreet Posts: 39,410 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You need to be able to pay the mortgage and the rent.

    I suggest you look into the possibility of you qualifying for shared ownership, then have a mortgage agreed in principle if the HA is prepared to accept you.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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