shared ownership not HA??

worrypants

Anyone have any experience of shared ownership that isnt with a housing association?

Just trying to be imaginative as only had one viewer in 8 weeks and that was one with a budget £25000 under asking price:mad:

we might well reduce even further ( already gone down £6000) but just wondered if we could perhaps sell 90% and retain 10% for a nominal rent

the problem here is low wages and affordability ( same most places I know)

it seems nothing above £150000 is selling at all
just a thougt or perhaps a minefield??

the buyers who coud afford say £145000 to £150000 I think do exist but few that will go over that.

any thoughts advice much appreicated
Thanks

CYBERCIDERSAVER

where you to?

worrypants

dont understand your comment cyber??

do you mean where am I? county durham market very slow here

Lavendyr

As a FTB, I don't think that offering your house on a shared ownership basis improves its selling potential, and in the long-term nor would it really drop the price (because of the rent).

I take it the house is presented well, the EA is doing a good marketing job, etc?

dmg24

I doubt that lenders would allow this.

Doozergirl

You cdmg is right, you won't get past a mortgage company.

You're not a housing association, not a major house builder, you would literally have to be named on the deeds and therefore, on the mortgage! You would therefore be jointly liable for ensuring that mortgage was paid.

Still interested?

lynzpower

If theres only 10k in it could you not drop your price to make it competitive.

personally, I agree, I dont think lenders would have a bar of it, for all the reasons out lined above. Additionally, even if it were possible, you would have to draw up leases, an so on and so on, and this would cost money too!

ixwood

Sounds like it's maybe just too expensive. What are others similar going for at the mo?

No matter how much you want a certain figure, it's only worth what people are willing to pay.

pinkshoes

Might be worth advertising it privately (ads in local shops etc...) along with information about the people who are entitled to part buy a house through a housing association, as there's alot of people who can only afford to part buy who don't even know what housing associations are!!