10 Year Non-Interest Shared Equity Payment Due. Should I pay it?

Anto_28

Hi All,

Back in 2010 I bought a house using the governments 10 year no interest bearing Shared Equity scheme. I took 15%. This payment is now imminently due (around £20,000). I have the money saved up from over the 10 years but its almost all of my savings pot, should I make the payment given the times, or hold onto it due to all of the uncertainty around at the moment.

If I don't pay it, would the house be taken off me? or be at risk of it being taken off me? Scouring the internet and can't find any guidance around these schemes.

Many thanks
Anto

Thrugelmir

You need to check what the position is once the 10 year period has expired. You may well find that an interest charge/fee can be levied. Until the loan is repaid. Read the documentation that you were sent. 
Any queries post up the relevant text.