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shared ownership - stair casing
villa2010
Posts: 293 Forumite
Hi all,
We are currently on the housing market in our shared ownership property. We currently have a mortgage for 25% of the house and also pay rent for the other 75% of the house which is relatively cheap £190 per month.
We are are currently making over payments on the 25%.
Would we be better of buying another 25% of the house by using the over payments money which would then reduce the rent we pay.
Should we sell the house we would also get more money from the equity which is currently has?!
Thanks all.
We are currently on the housing market in our shared ownership property. We currently have a mortgage for 25% of the house and also pay rent for the other 75% of the house which is relatively cheap £190 per month.
We are are currently making over payments on the 25%.
Would we be better of buying another 25% of the house by using the over payments money which would then reduce the rent we pay.
Should we sell the house we would also get more money from the equity which is currently has?!
Thanks all.
0
Comments
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When you want to sell, will it be easier to sell as a 25 or a 50?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.0
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kingstreet wrote: »When you want to sell, will it be easier to sell as a 25 or a 50?
There would not a problem selling the house its a great location.0
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