Shared ownership positive stories

[Ilikechicken18]

Has any of u single parents got a positive story regarding shared ownership... Or is it something to steer clear of??

I bought a shared ownership property 4 years ago. I purchased 40%. So far the rent increases have only been in line with inflation, no huge hikes as some people report. We're really happy here, I'd recommend it.

I'm just in the process of buying a SO. It's the only option I have of getting on the property ladder.

Thank you for sharing. Do you think that staircasing is possible on many of these So properties... I was concerned the rent may rise and about the land being leasehold.

I've been in a SO property for 8 years and it's been really positive, would never have been able to buy on the open market and it's given me some stability which is important.

We have been in one for 4 years, no problems at all. Just buying the rest of the share soon and its really easy

My first property was SO. Rent was initially set at 1/3 of the market rent (for the proportion not owned), and increases were index linked, so no massive hikes. It worked really well for me.

I would say to carefully check the details of each scheme, as they can differ substantially. Some of the more recent schemes have been very poor value and without the safeguards we had.

Pretty sure staircasing is by far the norm. If it's not available it's likely to be in an area with a localism agreement, where the property can only be sold on at a certain proportion of the market value, to ensure it remains as affordable housing.

Great thank u. This is definatly giving me more options, renting is very expensive so a small so with my deposit should be better than renting alone and throwing my money away. I want to keep on the market when I seperate. Congrats on the soon to be completion Iamneverfull x