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Shared Owership

aayush
aayush Posts: 1,295 Forumite
Part of the Furniture 500 Posts Name Dropper
in House buying, renting & selling
HI I am the above in 2 bed flat and need to find what it would cost me to buy my share will it be at the rate I bought the flat or today rate?

Comments

  • Slithery
    Slithery Posts: 6,046 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    If you are allowed to buy it then it will be at the current market value
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    You will have to get it valued by a valuer and then you will pay whatever the value is today.
  • csgohan4
    csgohan4 Posts: 10,607 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I hope your aware of the Cons of SO and your at the mercy of the freeholder
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • Jigglebiz
    Jigglebiz Posts: 162 Forumite
    Agree with csgohan4

    Lots of cons. Check out your freeholder carefully - google them, find out about the ground rent from the lease, generally be careful.
    However there is an upside too. If it’s the only way you can afford the buy property it can work out. We did SO, staircases to 100%, sold it 3 years later for 20% more than we put in. Using the proceeds to buy a freehold house.
    Total debt outstanding: Jan18 -£1813 / Feb18 -£1649 / Mar18 -£1278 / Apr18 -£999 / May18 -£632 / June18 -£316 / July18 £0
     House Buy/Sell Fund: Jan18 £0 / Feb18 £184 / Mar18 £568 / Apr18 £936 / May18 £956 / June18 £1538 / Jul18 £2233 / Aug18 £2719
  • HampshireH
    HampshireH Posts: 5,032 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Need to check you can staircase to 100% some only allow up to a certain %
This discussion has been closed.
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