House Buying

Any pearls of wisdom ....

81 to 93 of 93 messages
M...eldy    pirate
29/01/2010 at 10:31
Just less than half  
29/01/2010 at 12:12
I may have missed something Meldy...Are you thinking of buying 40% of a house? Who owns the other 60%?
29/01/2010 at 12:40
M...eldy    pirate
29/01/2010 at 12:50
JM its a scheme to assist key workers to get onto the housing ladder

You buy the 40% share (or whatever) a housing association owns the remaining share and lets that share to you at a reduced rate.

Info Here
29/01/2010 at 12:58

I don't press links, unless there are naked ladies behind them.

So you buy 40% and rent 60%.....Hmmm. The details of the contract will obviously be key. I'm not sure I'd feel comfortable with it.

I suppose it's all about the maths at the end of the day.

Move up north Meldy. You can buy a detached 5 bed for £50!

29/01/2010 at 13:06

Shared ownership has been around for a while, JM, it's not just for key workers.

You can increase the bit that you own as and when you have the funds to.  You can end up owning it all.

29/01/2010 at 13:12
"Move up north Meldy. You can buy a detached 5 bed for £50!"

move to one of the shittier Welsh valleys - you can buy a whole street for that........
M...eldy    pirate
29/01/2010 at 13:34
Wilkie,  not always the case now

Yes it has been around for a long time and various councils and associations run variations of the scheme.  Most new developments now have to offer a % of Keyworker housing but will also extend the offer to other buyers as you see marketed.
What has tended to change nowadays is the chance to buy more shares and a lot of Associations dont offer this and prefer to hang on to their share of the property ....

That said, its still an option and it is an option that allows me to stay in the village that has been home for 20 years +
29/01/2010 at 13:37
"it is an option that allows me to stay in the village that has been home for 20 years +"

have you actually asked other villagers whether they want you to stay???

29/01/2010 at 13:38

You could always shag an old rich man Meldy...

Just offering different options!

29/01/2010 at 13:44

I looked at shared ownership briefly a few years ago, but found something I could afford 100 percent of.

I think you'd probably have to MARRY the rich old man, to ensure that you got the house eventually.  However, I'd check carefully for any wills that might leave it to someone else

29/01/2010 at 13:47
Minor details Wilkie
M...eldy    pirate
29/01/2010 at 13:59
Good thinking Wilkie ....  its either that or bump off my old man

Not sure which would give me the most pleasure actually !

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