Is it possible to buy a stake in a houseshare

trojan10_om

I’m renting a room in a really swish 5 bedroom house. I’ve been here a year already and can see myself being here for the long term.

Im due to come into some money when I sell my equity of the martial home once divorce is complete.

I wondered if there is a recognised process and practical legal arrangement for buying a percentage in the house and therefore living rent free and mortgage free?

It’s probably hypotethical, because the landlord wouldn’t really have any incentive to sell and loose a revenue stream.

Is it even worth making some sort of proposal?

G_M

No.




Buy the property, or rent it, or a room in it.

Tom99

In theory you could become a joint owner, owning say 20% of the property but that interest would be almost impossible to sell on the open market, so would the other owners 80%.

need_an_answer

An interesting concept I have to say.

But what happens when the existing housemates move on and others move in whom you don't like...would you still want to have a long term connection with the property?

At best I would say you could negotiate a 3 year fixed term contract and maybe secure a preferential rent.

Even if you were to manage to persuade the LL to sell a portion of the property,you would then become liable for a portion of its total upkeep so its never going to be that you live rent or mortgage free...you would take on a different set of commitments.

Then theres the issue of when you come to want to move on,who would buy back your share...presumably the current owner would be the only one interested and they would have an absolute command on the price they would pay.

Spend your money more wisely....

eddddy

Jointly owning a property with a 'stranger' would be high risk and complex.

If you understood the risk and complexities, you probably wouldn't want to.

And assuming the landlord understands the risks and complexities, they wouldn't want to jointly own a property with you either


(And if the landlord doesn't understand the risks and complexities, you probably don't want to jointly own a property with somebody who is that naive!!!)