Shared Ownership (older persons)

JoeBloggs68

Hi. Does anyone know if shared ownership and older persons shared ownership are different schemes.  I want to buy a house near me under shared the shared ownership scheme. I'm over 55 but have been told that I would have to pay rent if I buy 75%. I thought I would not have to pay rent being over 55.

gwynlas

Do you understand the principles of shared ownership? You own a share making you responsble for maintenance etc and rent the other portion paying for communal areas etc.
I am not aware of any schemes where you would live rent free over the age of 55 otherwise we would all be applying.
Are you thinking that you would be eligible for housing benefit which might cover rental outlay?

MikeJXE

My friend bought a 75% share in a new flat for over 55 

He died 3 months later 3 years ago

It is still on the market, his son is unable find  a buyer 

kingstreet

JoeBloggs68 said:

Hi. Does anyone know if shared ownership and older persons shared ownership are different schemes.  I want to buy a house near me under shared the shared ownership scheme. I'm over 55 but have been told that I would have to pay rent if I buy 75%. I thought I would not have to pay rent being over 55.

That will depend on the scheme concerned. There is no hard and fast rule. Some charge rent on the remaining 25%, some don't.