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want to buy shared ownership house
elephant1980
Posts: 1 Newbie
Currently own 50% of our shared ownership property. When we bought the property we were told that we could not staircase any higher than 50% which at the time was ok as we were a young couple wanting to get into the property ladder.
We now have a family and would love to buy the whole property as currently feel trapped in this rental cycle after spending alot of money improving the property and adding another bedroom.
Does anyone know if there is any way around this original clause especially after finding out a few of our neighbours were able to buy the property outright 20 years ago. Thank you for any advice.
We were hoping the new giverment initiative for right to buy may help us but this doesn't extend to shared ownership.
We now have a family and would love to buy the whole property as currently feel trapped in this rental cycle after spending alot of money improving the property and adding another bedroom.
Does anyone know if there is any way around this original clause especially after finding out a few of our neighbours were able to buy the property outright 20 years ago. Thank you for any advice.
We were hoping the new giverment initiative for right to buy may help us but this doesn't extend to shared ownership.
0
Comments
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You are living in a house that is designed to be affordable for people who can't afford to buy the whole house which is why you bought it in the first place. What people did 20 years ago doesn't affect what you can do now.
If you want to buy a whole house you will have to sell the 50% share that you own now and buy a different house. Did you ask permission of the person who owned the other 50% before you made the alteration?0
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