Shared Equity?

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Considering buying a property which is shared equity.
No rent - but when we sell the company get a percentage (40%).

New build.

Does anyone have any experience of these kind of schemes?

It sounds good - as getting a better house than we can otherwise afford in an area we couldn't have dreamed of buying, but wondered if it stores up difficulty in the future in terms of selling?

Can you live there as long as you want or if you stay there a long time, do you have to repay the company their share?
Someone I know did this, after 10 years the company share had to be paid back. They couldn't re mortgage as the valuation wasn't high enough and ended up taking a large loan to pay it off.
House prices are very high at the moment and you could end up in a similar position if prices fall. They only had a 15% deal, but 40% is very high.

Yes I have come across this, so long as you don't have to pay it back until you sell I don't see the problem, it is a good deal. Obviously you are paying to maintain the whole house but that is more than fair.

So we'd own 60%, the company 40%.

There's the option of staircasing and as far as aware no time limit. They hope prices go up, but shoulder the risk that prices may come down and take their % on sale.

It seems better than the sharerd ownership rent type thing where you pay both mortgage and rent.

Not sure if leasehold (but presuming it is)

If it's as good as it sounds I'll be elated.

Check the situation if someone dies (without wishing to be morbid), especially if you want someone not in ownership to inherit or continue living there (eg children or elderly parents). Someone I know had shared equity and when he died they wanted their share within 1 year of death and his mother who had been living there but not on deeds couldn't afford to pay and had to sell to pay them their share, she had lived there for 40 years. It was awful for them because while grieving this all had to happen. Obviously I hope this wouldn't happen but worth checking the fine print!