Is shared ownership still appealing, and how can we achieve a quick sale?

[Ellipellimulli]

Are people still interested in shared ownership? Or is a dead path?

We're wanting to relocate and would live a quick sale, any advice?

We are selling our shared ownership property. A 3 bed end of terrace in Aylesbury. Very close to amenities, train station into marylebone, great schools, cafe, drs, a little Sainsbury's etc. Surrounded by fields.
£200k which is 50% share.
Rent and service charge £571.71.

We've lived here for 10 years and really love the community, we will be sad to leave.

Also, the rent on an equivalent property would be higher than my mortgage and rent combined. They’d be nothing to stick in an ISA!

It’s far from a niche scenario the highest group of homelessness demographic is women aged over 50 that don’t have the earning capacity to raise big mortgages.
And often depleted their savings in the family court arguing over children that are far too old to be arguing over
And seeing it with my own eyes, lecturers that are on 80 grand a year that can’t afford to buy in their own right.
The situation pops up a lot more than people might think

Lucky you you must be very close to the end of paying off your mortgage. Congratulations.

Not at all! I put £20k deposit down, pay about £350 for my £70k mortgage and £650 rent. If I rented, my £1k would not get me a nice 2 bed house in the SE.

With respect £70,000 for a mortgage is extremely low. You wouldn’t buy a garage for £90,000
but apologies, I misunderstood what you meant

Know not the point but I love the idea of a charming little terrorist house - “paint me! Buy my pretty things!”

For the OP, I’d make very clear the charges including any agreements on increases. I think SO is appealing especially in Aylesbury (used to live nearby) but there’s also a lot of older stock outright housing to compete with. What are the service charges for and how are they protected from horrifying increases out of your control?

Very good point. I read this report yesterday that states SO is usually cheaper than renting (renting alone) so as much as I wouldn’t touch SO with a barge pole I can see the advantage in this respect:

https://www.bbc.co.uk/news/articles/cm25e8k2je1o

It feels like a terrorist house I’m held at gunpoint whilst I sort the electrics. Let’s be honest. If I don’t it’s going to frazzle me isn’t it?

Indeed - as I said it’s a decent option in certain circumstances, especially where smaller cheap properties are still expensive and can’t move away , or your working circumstances or age make raising big mortgages impossible - one thing I would mention is to prioritise the developments by the housing associations- rather than private developers. they have much stricter controls of what they can do regards service charge raises and rents. Think Anchor, Peabody, - that kind of thing.

Because the children currently still live in it and the location is good ie expensive

All of which is true the children won’t be moving out any time soon. What with you know house prices being astronomical along with high interest rates? I didn’t know you could have both but we appear to be going against the law of physics at the moment.

Because we didn’t have anywhere else to live
It feels like a very weird conversation. I’m going to bow out if you don’t mind.