What is Shared Ownership, in house buying?

6 replies

JacknDiane · 29/12/2025 23:18

"Shared ownership 40% Monthly rent to pay to L&Q which is £624.84"

Am looking at trying to buy a flat in London. But am really confused what you'd be buying with the above information.

Can anyone explain what this means?

OP posts:

cestlavielife · 29/12/2025 23:20

What Is Shared Ownership? Is It Worth It? https://share.google/fY8gih3psaeeoyIQv

What Is Shared Ownership? Is It Worth It?

What is shared ownership? How does shared ownership work? What are the pros and cons of shared ownership? We look at all the pitfalls to avoid.

https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/shared-ownership-what-to-watch-out-for/#:~:text=Shared%20ownership%20is%20a%20government,need%20to%20be%20aware%20of.

Cat1504 · 29/12/2025 23:21

dont Do it….nightmare to sell on ….and the stair casing is no where near as simple as they make out ….never known anyone who didn’t regret it

NeedForSpeedyGonzales · 29/12/2025 23:21

You don't own the whole thing, only 40% of the property.

You'll need a mortgage or cash to buy the 40%.

The housing association you buy the 40% from will own the other 60%, and you'll pay rent on that share which will be the £624 figure.

DecisionTime123 · 29/12/2025 23:21

You buy 40% of the house usually with a mortgage. The remaining share is owned by L&Q, the housing association, and you pay a reduced rent to them of £624.84 which may include service charges but you'd need to check.

How much would your 40% share cost? Have you looked on websites like Share to Buy or even Martin Lewis to get a full explanation?

bumblebee1000 · 29/12/2025 23:23

Avoid...especially anything owned by L and Q...friend trying to sell late mothers place...lots of hidden fees in lease, clawback charges...total nightmare, very hard to sell on . lots of horror stories on fb groups etc.

DecisionTime123 · 29/12/2025 23:26

That's a very good website that @cestlavielife has linked to - I should add to my post that flats tend to be more difficult to deal with as service charges can escalate and most people who have issues with shared ownership have issues in flats.

Flip