Shared Ownership for the Council Flat I live in

iceman90

Does anyone have any idea if it is possible to buy the council flat I currently live in under the shared ownership scheme? or is it selected properties.

tomtontom

Generally shared ownership is only for specified properties, which are either new builds or resales. Can you not get a mortgage for the full amount you need to borrow?

AliceBanned

You should be able to get it under Right to Buy, but probably not shared ownership. You could phone your landlord and ask them just in case.

kingstreet

DIYSO - Do It Yourself Shared Ownership was a product of the late 1990s run by The Housing Corporation.

It is long gone and couldn't be used on a social housing property as it was designed to free such property by moving their tenants to their own homes.

suki1964

kingstreet wrote: »

DIYSO - Do It Yourself Shared Ownership was a product of the late 1990s run by The Housing Corporation.

It is long gone and couldn't be used on a social housing property as it was designed to free such property by moving their tenants to their own homes.

Have they stopped that??

Such a shame. That's how we got our first house. Freed up a housing association flat. Was a great scheme. They also paid our solicitors costs and our rent for the first six months. We done very well with the scheme and actually made a good profit on the resale when it was time to move on (as did the housing association )

Was a stressful time when buying though as once you were accepted, you had just six weeks to complete:eek: best diet I ever had :rotfl:

kingstreet

DIYSO was replaced by the Tenants Incentive Scheme, IIRC.

You gave up a social housing property and in return got a grant for the deposit on your own home elsewhere in your council district. It was a bit like the RTB discount, but enabled councils to keep their housing stock.