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Shared ownership owner - can I buy a 2nd ‘open market’ property?
Mullerice
Posts: 39 Forumite
Currently own a shared ownership property.
I would like to move, and found a great home that needs asap completion. Will not be able to sell the SO property before completion.
Is there anything legally or otherwise, that is tangible and not just hearsay, that is preventing me from purchasing a second home?
I am aware of the additional refundable SDLT, I will not let out any property, I can afford both mortgages and have the AIP.
I will remain living in the SO property until it is sold.
I don’t care much for the “spirit” of shared ownership, as this seems to be the only information I can find online that suggests it’s not ok to do - but never any actual evidence in legislation or otherwise.
My lease does not as far as I can see prevent me owning other property. Just says I must live in the SO as my primary residence.
Is there anything legally preventing me
from buying another home and not living in it?
from buying another home and not living in it?
Thanks in advance for any links to solid information etc!
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