La proprietà condivisa dovrebbe essere vietata: mi ha intrappolato e ho perso £ 12k
Shared ownership should be banned – it trapped me and I lost £12k
di 457655676
La proprietà condivisa dovrebbe essere vietata: mi ha intrappolato e ho perso £ 12k
Shared ownership should be banned – it trapped me and I lost £12k
di 457655676
10 commenti
Predatory scheme set up by predatory government to sort a problem that they created is predatory.
Tldr of shared ownership for those who don’t know is you rent a house with all the negatives of home ownership, none of the freedoms of home ownership, that you still need take out a mortgage to _eventually_ acquire a minority stake in. You can still be evicted. You still need permission to do anything to the house. **And** you’re still on the hook for boiler repairs and other incidentals.
Worst of both worlds.
You do have to wonder why an account executive didn’t know that buying half a house wasn’t a great idea.
So the real issue with the shared ownership is the shitty property management agency. The rest is fine. The mortgage and rent combined isnt horrendous it just the service charges on these buildings is extortionate and fool of scammers.
They aren’t as bad as people say they are it just need to be a bit more cautious. I won’t be having my rent increased yearly or having to move out after a year. The cost of moving can be several hundred cleaners etc
Source bought one.
Flip side: I’ve got shared ownership and my cost of living has not really increased substantially in 10 years. Would a full mortgage be better? Yes but the boomers made that impossible. If I was renting I would be paying a huge amount more. £600 more a month.
Landlordism culture should be banned too. Companies owning houses should be banned. Rent should be capped at 65% of a 30 year mortgage of a properties house value. Joint ownership should be banned. So many reforms needed just to be a first world, civilised country again.
Well i rent affordable housing with a housing association its a 3 bed at £1300 a month currently, been here 6 years. Spent close to £85k on rent and I have nothing to show for it.
Managed to save a deposit for a shared ownership nearby where the rent and mortgage of a 40% share works out at £50 more. Can’t afford a full mortgage on the house prices in my area so in my circumstances shared ownership will actually give me some equity and something I own even a part of. For me it seems a no brainer unless someone can give me a good reason otherwise.
I bought a shared ownership at 21 as our housing situation was falling apart – either we move into shared ownership or we go into private rentals (and subsequently never afford a full mortgage as we’d be paying rent). My salary was crap at the time, but enough to cover the affordability checks for the SO mortgage.
I had a few issues over the years, most notably, them suddenly deciding I wasn’t allowed pets – despite having them on record saying my dog was fine to be living there. Also, no matter what broke down in our flat, we were *always* liable.
There was also a service charge which was used to pay for cleaners (in communal areas), however, the cleaners never actually turned up… £250 a month for cleaners who don’t even turn up, and we despite our complaints, the SO partner never did anything about it… Bargain!
The selling process was okay – they had to do *god knows* how many “additional checks” which almost led to us losing our buyer – but luckily nothing completely stopped the process…
I wouldn’t recommend it – but giving the housing/CoL crisis, I can only see these sorts of deals becoming more popular.
I started with a shared ownership house and it was a great way to get on the housing ladder. Worked my way up to 100% as soon as possible and eventually acquired the freehold and sold it on for a decent price. The housing association were an absolute ball ache to deal with and I nearly lost my mind prizing the freehold from them (they’d been granted it by the former owner on condition they offer it to any 100% owners but made it soooo painful). So I can see how it can be a nightmare, but it can also be a really useful leg up.
If it were not for shared ownership, I would have not been able to afford the deposit for my current house.
We were looking to buy a house during the first few years of shared ownership. Fortunately, I smelled a rat and as I dug deeper into it and the estate agent was unable to answer questions I pulled out thank Christ.