xxhaylzxx
Well-Known Member
Some new houses are being built in our town that are shared ownership properties which me and my boyfriend are interested in. We currently rent and feel like its dead money when we would really love to buy but not in a position to put a 10% deposit down and doubt we would get a mortgage as I am self employed and haven't been trading for two years yet. We would only need a 5% of the share we would be getting the mortgage for. I think we would be able to get the mortgage in my boyfriends name so I wouldn't be taken into consideration. Obviously there is rent on the remaining share we haven't purchased but still the total maybe just lower than what we would be paying purely in rent. You can also purchase further shares so in the future you could own 100% share of the house.
But my question is has anybody had any experience in shared ownership. Is worth it?
But my question is has anybody had any experience in shared ownership. Is worth it?