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Shared ownership

houtarosa
houtarosa Posts: 1 Newbie
in House buying, renting & selling
Hi all
please I would like to know if someone is a cash buyer who wants to buy a shared ownership property with full cash
do They still need to pay rent??? 
Thank you

Comments

  • Leesabee1
    Leesabee1 Posts: 15 Forumite
    10 Posts Name Dropper
    With a shared ownership property, you will pay rent on the portion that you don’t own. If you have bought 100% in cash (by simultaneously staircasing and purchasing) then you won’t pay any rent but maybe service charges. If you purchase a percentage fully in cash then you won’t pay a mortgage on the part you bought but you will pay rent on the part you didn’t. 
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