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Shared ownership BTL?
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obay
Posts: 570 Forumite
Hi,
I don't know if this is possible but forgive me.
Could I purchase 25% of a house on BTL, to rent out? I am 99% sure this isn't allowed.
I've seen a house where I'd only need to put down £3k deposit to own that amount of the house so just seeing if I can become a landlord like this? Ie, cheap enough then buy the rest of the house after a while? Ie, stairgate up to 100% on the freehold?
I don't know if this is possible but forgive me.
Could I purchase 25% of a house on BTL, to rent out? I am 99% sure this isn't allowed.
I've seen a house where I'd only need to put down £3k deposit to own that amount of the house so just seeing if I can become a landlord like this? Ie, cheap enough then buy the rest of the house after a while? Ie, stairgate up to 100% on the freehold?
[STRIKE]1/12/16 - £152,599.00 [/STRIKE]
[STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
11/11/18 - £142,074.00
Barclays Car (5.99%)£0/£8,832.37
[STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
11/11/18 - £142,074.00
Barclays Car (5.99%)£0/£8,832.37
0
Comments
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I'm 100% sure it isn't.
It's social/affordable housing part-funded by the Government and managed by a Registered Social Landlord.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »I'm 100% sure it isn't.
It's social/affordable housing part-funded by the Government and managed by a Registered Social Landlord.
That's what I thought, I suppose as a 'wanna-be-landlord' your suppose to have the money up front![STRIKE]1/12/16 - £152,599.00 [/STRIKE]
[STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
11/11/18 - £142,074.00
Barclays Car (5.99%)£0/£8,832.370 -
Yeah and you're supposed to leave the Government supported stuff for those who need it; not to kick-start your would-be property empire.
Just think, you'd be paying under-market rent on the slice you didn't own while knocking the gaffe out on the open market and pocketing the difference.
Fortunately, you haven't a snowballs in hell.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
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Don’t get me started on how wrong your idea is!
What you are you planning on doing with your existing property???0
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