Shared Ownership UK // Is it worth it ?

[@princesspinkblue]

Start from 3:40 to get to the main topic

[@samwithers2147]

Hi Alex. Just wondering if its worth having a higher or lower share in a shared ownership? This might sound dumb but my girlfriend and I are wondering if a 25% share or 70% (2 different properties) would be better in the long run?

[@alexkerrmortgage]

In theory the higher the share the better… But it’s all down to affordability. Most of the time the housing association will let you know the highest share.

[@robertocabanas9355]

Thanks for this video, great insight on the topic. Also I have a question which would be the consequences if sometime after you are into a shared ownership your household income rises over the established limit ?

[@teroliikala]

I would like to know this as well

[@alexkerrmortgage]

It’s okay, if it happens once you’ve already moved into the property…

[@bill178]

How would it work if you want to make changes to the property ?

[@alexkerrmortgage]

That should be ok as long as not huge structural changes.

[@anthonyfaucy2761]

I think this scheme is only suitable if you intend to buy your forever home and it has to be a house not a flat

[@alexkerrmortgage]

House and flats are available on this scheme.

[@anthonyfaucy2761]

@@alexkerrmortgage They are but a flat isn't a good purchase in general

[@princesspinkblue]

@@anthonyfaucy2761not necessarily- it depends on what your needs/ circumstances are.

[@angelapedro9676]

I agree with you Anthony.

[@muzzer8869]

Hi pal if buying a 40% stake at a house is 300000 would you stil have to pay stamp duty if not A first time buyer
Cheers

[@alexkerrmortgage]

Yes you would like if not a first time buyer.

[@coraho546]

Thank you for your video.

[@motochileiros-motopackers103]

Is shared ownership chain-free? Tks

[@alexkerrmortgage]

Yes

[@sunny-xu6vz]

Alex, how can i reach you.

[@alexkerrmortgage]

Here! link.alexkerr.co.uk/mortgage/ftb