London 50% shared ownership vs Outside London 100% with equity loan, which is better?

sugarbabe84

If you had the option of a shared ownership 1bed property in London for a 50% share at 250k versus the option of a 100% £250k 2 bed flat an 1.5hrs from London by train, which would you prefer?

PasturesNew

1.5 hours .... = 3 hours/day on a good day... what about when it's cold, wet, miserable, your feet ache, you've had a cr4p day, are starving hungry... and the train home's cancelled?

While shared equity isn't "great" .... neither is being so distant from work and reliant upon public transport.

On balance.... I'd probably go for the shared equity, even though I see those as "not a great choice" due to problems selling them and restrictions if your circumstances change.... at least you'd be saving about 2 hours/day commuting time and have more travel options.

sal_III

100% of 1 bed flat for £250k in zone 4+ in London 20-30min away from London terminal train stations.

50% of a 1-bed that costs 500k is mad, where is that Canary Wharf?

90min commute in one direction is even crazier. I hope you are factoring in the £5-10k train season ticket in the TCO of the property.

HPC_Ghuol_Hunter

I am a firm believer that it is always better to own a percentage of something than zero of nothing. And in that belief I also believe that it is better to own a higher percentage of something than less.

AG47

With the 50% shared ownership somebody can get the rent paid with housing benefit if they qualify

Its the best of both worlds, because if prices go up even more then you will benefit, but if they go back down a long way then you only have half a property to worry about losing value