anyone in a shared ownership property?

Replies

• gsmummy55

  Feb 1, 2008 2:42PM

  We were thinking of going for a shared ownership flat but the amount we would have had to pay each month as just as bad as an ordinary mortgage! I personally think it's a waste of time and the estate agents trying to rip off people who can't get their foot on the property ladder. This is only my opinion but nowadays I think if you can't afford a mortgage you shouldn't have one...better off renting perhaps?
  Now is a good time to buy tho as there are a lot of cheap houses that have been reposessed around, some of them need a bit of work doing but you can often do work cheaper than buying a decent house. xxxx

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• siand Regular

  Feb 1, 2008 4:13PM

  we got one and it was great for us but only coz ours was secondhand ( only 3 years old). we wanted a 3 bed house bu we couldnt raise 160,000 through a mortgage even though we could have covered the repayments so it really worked when i found ours, we brought a 50% share for 80,000. but all the ones coming up were posh new flats and all we could of got for our money was a 2 bed flat and the rent on the other half was more than ours because there was more communal space. it can work out well if you just cant raise the mortgage coz 50% is better than nothing, but look in to it carefully and dont forget the market is slowing and you may get a bargain if you sit tight

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• lisa1808

  Feb 1, 2008 5:08PM

  Thanks, this may be a route we have to go down as my oh was made bankrupt a few yrs back and altho has now been discharged we are unable to get a joint mortgage. the only way we could do it is if i get a mortgage in my name - i could only get one for about 60.000 so S.O is really an option we need to consider.

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