To think part ownership is a con

[BumpowderSneezeonAndSnot]

I'll start by saying I'm not a homeowner.

Surely something is only worth what someone is willing to and is able to pay. So if people are only able to pay for £140k of the £260k asking price surely the property is only worth £140k? But no! There is money to be scammed here...so let's make people pay rent on top of their mortgage even though they will never own that % of the property!

It smacks as one big con to me.

www.theguardian.com/uk-news/2018/jan/28/salford-block-residents-must-pay-fire-wardens-grenfell

Helena that article has nothing to do with shared ownership.

sorry wrong thread.

Currently selling our shared ownership house. It's worked for us in the sense that we couldn't have afforded to buy otherwise, and our house price has risen significantly in the 7 years since we bought our 50% share so we are making many thousands in equity from the sale, which is going to be our deposit for our next house (which is none shared-ownership).

However, the housing association are slow, bureaucratic and unhelpful; and they have watched the value of their investment rise whilst literally doing nothing. We pay them rent and a service charge and they literally do nothing (they've never been able to explain what the 'service' they provide in our service charge is). You have none of the benefits of renting but all the hassle of being a home owner.

So, it has it's positives and negatives.

@BumpowderSneezeonAndSnot

If they were on the open market they would be sold easily at their full price. There are loads of buyers who can afford the full price.

It's not keeping house prices up, it's giving people who wouldn't be able to afford a house the chance to buy one at what they can afford.