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Original poster

Shared ownership

27 replies

Imagineit · 13/02/2023 19:29

Hi, where is the best place to look for a shared ownership property? I noticed some on right move but also on some different sites too so just wondered if there was a main place to look?

OP posts:
Original poster
Imagineit · 13/02/2023 21:30

Thankyou everyone for their input, positive and negative. It's good to get some perspective

OP posts:
PinkFrogss · 13/02/2023 21:33

AnotherSpare · 13/02/2023 21:29

It's easy to say shared ownership is problematic, a nightmare, don't do it, and so on. But for many people it's the only way into the housing market, when buying in the usual way is so far out of reach and renting would be a financial downward spiral.

I bought into a shared ownership flat. Yes there were some problems. The block of flats needed some work and I had to pay into that, but if I'd bought in the regular way I would also have had to pay towards those costs. There were also rent increases to deal with, but even so, my mortgage on my share plus the rent on the rest was still less than if I'd rented the same property.

I bought a quarter of my flat, sold it after six years for a little profit and used that as a deposit for my next place. It worked ok for me.

I'd suggest you find a housing company or developer who have properties in your area and go direct to them rather than through estate agents. Where I live the flat prices have gone down a little so you might get a good deal.

I agree with this. I’m sure if OP could get a mortgage to cover a property 100% they would.

Shared Ownership isn’t perfect, but it’s still better than renting entirely.

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