Shared ownership resales - does anyone have any experience?

LED123

Just that really - does anyone have experience of buying or selling a shared ownership resales (am looking t purchasing a resale property).
I'm particularly interested in finding out how easy it is to obtain a mortgage on these properties when buying.
Also whether it's hard to sell if the vendor doesn't own 100% of the property.
Thank you

MINNIEMOMO

We had several interested buyers on our shared ownership property and we are about to exchange on the sale. Easier to sell if you own less!

LED123

Thanks for your reply, that's good to know.  Do you mind me asking how much you own

Elfbert

We bought/sold in London.

First flat, owned 40%. Did one open evening. Got 11 offers on the night. Second one owned 50%, sold via estate agent, got 2 offers.

Now left London and bought a freehold house, glad to be out of shared ownership, but it worked well for us when we needed it.

Wouldn't ever own more than 50% personally or it's hard to come in under the earning criteria and have enough money. It's a balancing act.

MINNIEMOMO

LED123 said:

Thanks for your reply, that's good to know.  Do you mind me asking how much you own

We own 30%