Shared equity scheme

Pez2

If it's through a proper housing association and you really think you otherwise wouldn't be able to buy, and you will be able to comfortable keep up with the mortgage payments even if interest rates go up by a percent or two, then you should go for it.

The only note of caution I would sound is that, where I live (Birmingham), they have been putting up new build apartments left, right and centre for the last few years and have loads more in the pipeline, so I can't see the value going up and if anything I suspect that they will drop in value due to oversupply. Your area might be different, but I would urge caution, and I'd be wary of taking out a 100% mortgage.

Frags

I just think it is very said that someone has set up a whole thread slagging me off!!! Some people obviously have nothing better to do!

Thank u every one for all your advice, i will take it on board

SquatNow

A_Nice_Englishman wrote: »

No, in that case they keep the tenants and increase the rent.

So your saying that they're "in it for the long term"??? :rotfl:

I love it when people think they can just raise rents and the tennants will just pay it. I love their voids and their repossessions.

frannyann

Frags, I have a shared ownership place with a 60% share. I bought 5 years ago and my flat has increased in value by £65K, the main downer is that I have not be able to raise my mortgage in line with the increase in value. Therefore I have maintained the property and improved it with my own money yet I get only 60% of the increase in value if I sell. If you decide to buy I would suggest trying to buy the remaining shares as quickly as possible and plan for it to be your long term home. My friend did manage to do this and now sitting on the full increase in value.

Frags

Thank you Frannyman its great to hear from someone who is already on the scheme, am having a meeting tonight with the Affordable housing scheme so i am going to sound them out as far as buying theother share.

CYBERCIDERSAVER

Just like to say well done for sticking up for yourself.

HPC website is cr*p aand they clearly have nothing better to do than trawl better websites for something to slag off. How sad is that?

sgtkate

I know this thread has been dead a while, but I stumbled upon it whilst I was looking into the 25/75 shared ownership scheme with Persimmon.
I was thinking the offer was a fantastic deal but having read all the advice I can now see that it almost certainly isn't.

I've got a meeting with Persimmon where I'm going to find out more information about buying back the 25% share earlier or at least buying them out of some of it. If they aren't prepared to sell it any other way then I think it's a no starter.

Kate