The TRUTH About Shared Ownership!

Is shared ownership of property worth it?
Shared ownership is another way to buy your own home. You buy a percentage, as much as you can afford from 25% to 75% of the value of the home, and pay rent on the rest. We own part of it - but you're living there, you decorate it, and you decide when to sell.
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[@andyking5431]

Biggest con shared ownership. I live in two bedroom semi own 50 percent the council own the other half . Im responsible for all the maintenance. My leasehold has gone below 80 years so would have a job to sell it now have to pay thousands pounds to increase leasehold for ground .

[@belltopcone]

Get your foot on the ladder of debt...oh yeah...cant wait.

[@Brovider]

Your name start with R the R word fit you

[@mamz16]

“Forced to sell to them” this is not correct as per the lease. The HA get first refusal to sell but not to buy.

[@centralsuitesuk]

Thanks for the comment!
You are correct in almost all cases, however, we have heard a couple of horror stories of leases where it was the case. We've not heard of the clause being exercised though!
It is very common for the Housing Association (HA) to have the "right of first refusal" in the lease agreement. Which, as you say, essentially means the HA will have the right to find a buyer themselves before you're allowed to market to any other buyers. This can also still stand if the leaseholder has purchased ("staircased") 100% of the property.

[@SalikMahmood]

Sending a message out there for anyone who's going for a shared ownership in the near future... What kind of mortgage rates have come up for you?
Mine are in the range of 6.1 - 6.3 and I think I'm being absolutely shafted :D

[@andreo3854]

Why do a segment if youre not providing real insights