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Feels like I'm going round in circles!

4 replies

Mamabearrr83 · 23/02/2024 20:50

Me and DP have 3 children (9yoDD, 2yoDD & 1yoDS and we currently rent a house off family who have said in the next year they want to sell up so we need to find somewhere else to go which is fine; I contacted the council and they have said to let them know 2 months in advance no sooner and they will give me a higher band to bid on houses but the wait can still take 18 months or more and that's if we even get housed at all, i know it sounds silly but I just hate the feeling of not knowing and not being able to do anything until last minute.
We have looked into shared ownership which we are going to try and save for a small deposit but has anyone else done this and it worked out ok? I've read quite a few mixed reviews and not really sure which way to go!
Any advice welcome

OP posts:
MinnieMotor · 23/02/2024 21:12

Buy your existing place?

mumsy27 · 24/02/2024 01:45

shared ownership is the best way to go if you can't buy in the open market.
if you have questions feel free to ask.

Mamabearrr83 · 24/02/2024 08:10

mumsy27 · 24/02/2024 01:45

shared ownership is the best way to go if you can't buy in the open market.
if you have questions feel free to ask.

I'm thinking this is our best option! I've just read so many bad things of people saying rent rises to ridiculous amounts over time but then so does private renting so I guess its still better as you're putting money into something of your own!

OP posts:
mumsy27 · 24/02/2024 11:28

I was paying rent around £320 for 50% share in zone 2/1 London, 2 bedroom flat. In 2019.
Service charge you pay regardless if it's shared ownership or not. Nothing for ground rent.
The social landlord was responsible of maintaining the building including my windows.
Try to buy the biggest percentage you can afford.

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