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Moving from private ownership to shared ownership...
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CrippsCorner
Posts: 49 Forumite
Yes I know it seems a little backwards, which is probably why I can't find any information on it!
My partner and I own a 2 bedroom flat, and now we've had a child (and want more) we are really feeling the need to move on to a bigger place, specifically with a nice garden.
We live in Essex, where I'm sure many of you know, prices are ridiculous. With both of us on full wages when we got our mortgage, we just about could have scraped getting a poor house in a poor location (but we didn't want to stretch ourselves financially) and now of course, prices are ever spiralling away from us. I now see only one way of getting a house on a single full time wage, which is via shared ownership.
There are some new builds popping up near us and I applied online to see what the result was, and it came back that we had been rejected because we already own a property. I just stopped there and thought well that's that.
However it's since occurred to me that the wording isn't straight forward... do they think we want a shared ownership as a second property? Which isn't the case! We want to move into one.
I actually went in to speak to someone but they didn't know and passed us on to another company which as yet, I've not been able to get hold of.
If that is the case and we are actually eligible, I think the only problem we've got is going to the hassle of putting our place up for sale on the hopes of getting one of these new builds (the lady working there said there's not many left) because there are no other shared ownership properties within 15 miles... so if it fell through, we'd have to retract the flat from the market again until more shared ownership properties were developed!
Any knowledge or advice on the above? Thanks.
My partner and I own a 2 bedroom flat, and now we've had a child (and want more) we are really feeling the need to move on to a bigger place, specifically with a nice garden.
We live in Essex, where I'm sure many of you know, prices are ridiculous. With both of us on full wages when we got our mortgage, we just about could have scraped getting a poor house in a poor location (but we didn't want to stretch ourselves financially) and now of course, prices are ever spiralling away from us. I now see only one way of getting a house on a single full time wage, which is via shared ownership.
There are some new builds popping up near us and I applied online to see what the result was, and it came back that we had been rejected because we already own a property. I just stopped there and thought well that's that.
However it's since occurred to me that the wording isn't straight forward... do they think we want a shared ownership as a second property? Which isn't the case! We want to move into one.
I actually went in to speak to someone but they didn't know and passed us on to another company which as yet, I've not been able to get hold of.
If that is the case and we are actually eligible, I think the only problem we've got is going to the hassle of putting our place up for sale on the hopes of getting one of these new builds (the lady working there said there's not many left) because there are no other shared ownership properties within 15 miles... so if it fell through, we'd have to retract the flat from the market again until more shared ownership properties were developed!
Any knowledge or advice on the above? Thanks.
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