Does anyone part rent part buy? Does it work out expensive?

[returningstress]

I'm living with my mum and really really want to move out. I am on the housing list but is likly to take years to get a place.

I have rented privatly before and feel that is not a great soloution for us as will never really be our home.

I wish I could buy but even if I was in a full time job I would probably only earn around £20,000 per year. And as I live in London cannot imagine getting a mortage on that wage.

I know there are goverment schemes like part rent part buy. Or the first time buyer loans (dont think my wages would be enough for that).

Just wondering if anyone has done anything like that? And if it works well for them?

Or if you have any other ideas for me to move out? I am not working at the moment but have a part time job that I am trying to get into. And would go to work full time if I could buy a place. My dd is nearly 3 so I'm sure it will all be easier when she is at school.

I bought a shared onwnership (part buy part rent) 2 bed flat 2yrs ago. Was with my partner at the time so could well afford it but he left wen I was 4mths preggers, with no job after being sacked during pregnancy but now I've found work and am just about able to cover everything.

I so did not want to rent private as I see that as dead money but I am really pleased I've done this.

www.housingoptions.co.uk is how I got my property. PM me your email/mobile and I can give you loads more info.

From what I see the rent part of the equation is so high that if you can afford that then a mortgage for the share you do not own would cost far far less.

I live in a part ownership flat rented out to me and have seen the numbers.