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New government schemes and shared ownership
mk_78
Posts: 48 Forumite
I've seen a few threads on how the new government help to buy and mortgage guarantee schemes are likely to affect regular house prices but was just wondering whether people thought they would have any effect on the popularity current shared ownership schemes (part buy part rent).
My personal circumstances mean that shared ownership is the only scheme that would be suitable, I know all about the pros and cons of shared ownership but in my situation it really is the only option if I want to buy rather than continue renting.
Where I live (Milton Keynes) shared ownerships are generally marked as SSTC on rightmove in less than a week, some even get added to rightmove as SSTC straight away! Even properties with ridiculous premiums eg 20k (which is on top of the asking price and can't be added to the mortgage) when the property is tired and dated with no added extras such as a new kitchen or conservatory are snapped up within days. I have property bee so can see the properties that are on RM and how long it took for them to be marked as SSTC.
I would like to think that the new schemes will lessen interest in shared ownership (so that there is less competition for me!) but would be interested to hear what others think?
My personal circumstances mean that shared ownership is the only scheme that would be suitable, I know all about the pros and cons of shared ownership but in my situation it really is the only option if I want to buy rather than continue renting.
Where I live (Milton Keynes) shared ownerships are generally marked as SSTC on rightmove in less than a week, some even get added to rightmove as SSTC straight away! Even properties with ridiculous premiums eg 20k (which is on top of the asking price and can't be added to the mortgage) when the property is tired and dated with no added extras such as a new kitchen or conservatory are snapped up within days. I have property bee so can see the properties that are on RM and how long it took for them to be marked as SSTC.
I would like to think that the new schemes will lessen interest in shared ownership (so that there is less competition for me!) but would be interested to hear what others think?
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Comments
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the biggest problem is getting mortgage lenders to do shared ownership - they do not seem to like it0
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