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    • kunaldighe
    • By kunaldighe 18th May 17, 1:31 PM
    • 1Posts
    • 0Thanks
    Shared Ownership % issue
    • #1
    • 18th May 17, 1:31 PM
    Shared Ownership % issue 18th May 17 at 1:31 PM
    Hello All

    This is after several attempts to resolve the matter, I have now come to you all for help and advice.

    I bought a shared ownership property in November 2015. I bought a 55% share in the property and the Housing Association is Genesis.

    On all official paper work and documents from my solicitors, Nationwide (who gave me the mortgage) confirms that I have bought 55% share. 2 months into the property in January 2016 I realised I am being charged more rent that initially agreed. When enquired, Genesis advised that I only own 40% of the share and am charged accordingly.

    For the past 1 year and a half, I have sent numerous emails to my solicitors, Genesis and all seem to be dragging their feet. My solicitors who are NH Law based in Chelmsford seem to get no concrete response from Genesis. They did cover the extra rent I paid for the last year.

    I am now getting worried as to where I stand as the deposit I paid, the mortgage that was approved was all based on the 55% share and I would really appreciate if any help or guidance is available

Page 1
    • kingstreet
    • By kingstreet 18th May 17, 3:25 PM
    • 33,381 Posts
    • 18,068 Thanks
    • #2
    • 18th May 17, 3:25 PM
    • #2
    • 18th May 17, 3:25 PM
    I can think of nothing to suggest but to continue to deal with the parties who can resolve this - the solicitor and the Housing Association.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • jkwer521
    • By jkwer521 24th May 17, 9:09 PM
    • 29 Posts
    • 6 Thanks
    • #3
    • 24th May 17, 9:09 PM
    • #3
    • 24th May 17, 9:09 PM
    I also bought a property where Genesis was involved. All I can say is that they were very bad at communicating between departments and it was hard to get a straight answer.

    A few months after we moved in, we realised that Genesis had not properly recorded the sale. It took months to sort out, through many phone calls and emails - some directly between my solicitor and Genesis.

    Originally I called and spoke to many people and made an official complaint. Eventually I found one person and stuck with him. I kept emailing him and calling and holding him responsible and ultimately this worked, but it was very hard.

    It was stressful to start with, but I was confident that I was in the right and I had to accept that it was just going to take a long time.

    In the end, everything worked out OK though. I have actually dealt with Genesis on a previous property (coincidence) and I also had a similarly difficult time communicating with them - keep trying!
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