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shared equity
zeze_3
Posts: 23 Forumite
hi we currently rent a house in hackney east london we had the house valued at £195,000 we cannot afford a mortgage purely on that amout because we have no deposit to put down so we were looking at a scheme that allows you to buy say £50,000 of the house from the council and pay mortgage on that part then later on down the line if you decide you can but the rest.
the part you are not mortgaging you do not have to pay rent on i.e this isnt a shared ownership a scheme as such
does this sound familiar to anyone????
we have heard that halifax enables you to have this kind of mortgage
sorry i am new to all of this so any help much appreicated
the part you are not mortgaging you do not have to pay rent on i.e this isnt a shared ownership a scheme as such
does this sound familiar to anyone????
we have heard that halifax enables you to have this kind of mortgage
sorry i am new to all of this so any help much appreicated
0
Comments
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My boyfriend has done this with his house. The house was valued when he moved in and he bought 40% and pays rent on 60%. He got a normal mortgage from barclays, you shouldn't need to go anywhere special. He can up his ownership in units of 20% minimum until he reaches 100%, each time the % of rent he pays obviously goes down as his % of ownership goes up.You're not your * could have not of * Debt not dept *0
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