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Shared ownership
DigitalSpy2022
Posts: 23 Forumite
I know this will probably get asked all the time but thought I'd ask for specific advice to my circumstances.
Single living at home with parents.
Looking at a 1 bed detached bungalow, 25% share for £63,750. I plan to put £20,000 deposit down.
I'm really keen as this is such a rare find and actually affordable
Should I go with a mortgage broker or direct?
Direct through Halifax 4.15 with no product fee.
This is over 30 years At a 5 year fixed rate.
Thanks
Single living at home with parents.
Looking at a 1 bed detached bungalow, 25% share for £63,750. I plan to put £20,000 deposit down.
I'm really keen as this is such a rare find and actually affordable
Should I go with a mortgage broker or direct?
Direct through Halifax 4.15 with no product fee.
This is over 30 years At a 5 year fixed rate.
Thanks
0
Comments
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Shared ownership works for people in certain circumstances but generally is not the best way to get on the property "ladder".
Are there reasons why a 1 bed bungalow is suitable for you and your future needs? Have you consider the rental costs and the fact you'll be fully responsible for the upkeep of the property? Would you be planning to staircase up your % of the property ownership?
Have a search of other SO posts to see what issues might arise.
How long is the fixed rate on this mortgage?"You've been reading SOS when it's just your clock reading 5:05 "0
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