Shared ownership

[FacingDivorceButSad]

Would you buy shared ownership?

I have the option of shared ownership or renting when I divorce as cannot afford 100% mortgage. I have read lots and trying to weigh up the pro and cons of both. I would hope in the 14 years I have until my child is an adult and child support would stop that my wages would increase but I worry about the rate that ground rent can go up. I worry about how much staircasing would cost. I worry about how difficult it would be to sell

As long as its a new one yes. staircasing rules have changed in the last 2 years so it's a lot easier now, you can buy tiny bits as and when with cash if you like. and its much easier to just sell on the open market yourself too. the leases are also essentially freehold they're so long.

My house is shared ownership, i pay £550 a month vs over £1k it would be to rent the same house in the area

I think if you're not going to get 100% it's best to keep your shares low as it will be easier to sell on in future

Thank you. It's helpful to hear other people's perspectives. There are a lot of new builds happening in my area and limited rent choice so I'm hoping there will be some good opportunities when the time comes to buy