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Shared ownership

2 replies

totallycluelessoverhere · 30/12/2018 07:10

Does anybody know if you can buy a new shared ownership house without a mortgage. I am unable to work but will have enough to buy a 50% share of a house outright based on the shared ownership prices in the areas I am looking at. I cannot buy 100% of a house in any area within 10 miles of where I live and my children go to school. I won’t be able to get a mortgage due to not working. I might be able to work part time in the not too distant future but not enough hours to earn enough for a mortgage.
I can’t privately rent because the letting agents will only allow you to rent a house based on so many multiples of employment income which I obviously don’t have.
There is no chance of me getting rented social housing in the next 10 years.

OP posts:
totallycluelessoverhere · 30/12/2018 07:10

I will easily be able to afford the rent on the 50% of he property that I don’t own.

OP posts:
RhubarbTea · 31/12/2018 23:23

I'm not sure but I read somewhere that you can get housing benefit to help with the rent part of a shared ownership property, if that helps. I'd be interested to know the answer to whether you can buy the owned part of the house outright, hopefully someone here will know.

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