Selling shared v full ownership?

Heather2012

Hello,

I am in a shared ownership house. I own 50%. I am planning to move house in about 5 years time. My question is, am I more likely to sell the house if I leave it as shared ownership or should I buy the other 50% now and sell it as the full ownership later on?

The other side of it is whether I would be be able to build up equity more quickly by paying the 50% mortgage rather than paying a mortgage on 100% (at the same interest rate)?

Any advice is greatly appreciated.
Thanks,
Heather

richardw

How much equity do you currently have in the property?

Are house prices currently rising in your area?

geoffky

I hope you are in London because elsewhere equity is just a dream for so many...
My first time buyer daughter last night asked if i thought that she could build up some equity in two years..How i laughed..

Heather2012

Hi,

Thanks for your replies. My share of the house is 50% and I have about 10% equity. I don't know if house prices are rising in my area. Is there a way of finding out?

I'm not in London geoffky but am hoping to build up equity by making overpayments on my mortgage when I can.

H

K1RST1E_2

I'm currently selling my house which is a 50% shared ownership property. We've put ours on the market for a little less than the value as we want to sell fairly quick as we have inherited another house.

We bought our share for £81,500 and have put it on the market for £77,500 despite the house prices picking up. We've not had a single viewing in almost 4 weeks. We have had 1 person arrange a viewing and the not turn up but other than that, nothing.

Make of this what you will