it d be great if the rent we pay wouldgradually lower the mortgage then when ready to buy the rest you can deduct your payments from the new valuation of % left to buy ??
Is it possible to but if you are working part time and on benefit as well which does make over the basic salary required as it’s not very clear and there is no number to contact them
Ooops I just noticed an error in my Graphic. I do say 21 to 55 years old. But I updated the graphic incorrectly. Thanks for pointing this out. You are eligible even if you are 30 :) sorry for the confusion
Hi Naomi, they are very similar indeed!. But there are some key differences, Shared Ownership typically requires an individual to get a mortgage and the choice of properties are new builds running under that scheme
PLEASE NOTE: 2:24 The eligible age is 21 - 55 not 21 - 25.
I was just going to comment on that lol 😂
it d be great if the rent we pay wouldgradually lower the mortgage then when ready to buy the rest you can deduct your payments from the new valuation of % left to buy ??
Great content. thank you for sharing Keep Up:)
Thank You Victoria, that is really kind of you to say. I definitely will be :D
Well done, Great content. keep up
Thank you very much!
Is it possible to but if you are working part time and on benefit as well which does make over the basic salary required as it’s not very clear and there is no number to contact them
Can I rent it out?
Question, when you are ready to buy the home do you buy the home at the original value I.e £150k or what the property is worth at that time?
What the property is worth at the time, unfortunately. Had a call with them today.
Only 21/25 year olds? I was looking at this idea but I’m 30
Ooops I just noticed an error in my Graphic.
I do say 21 to 55 years old. But I updated the graphic incorrectly.
Thanks for pointing this out.
You are eligible even if you are 30 :) sorry for the confusion
It’s a good scheme I think to get you on the ladder
Potentially. It is a definitely a worthwhile option to consider among all the other schemes currently available.
Forgot to mention when u owe 40% the next 60% u need to get a mortgage to buy them out. So this is actually worse than renting.
That's correct. Also to add, you can buy a maximum of 5% a year up until you get to the 40% mark. Your initial deposit can be no more than 30%.
Basically your helping them buy a property they let you rent..
Mentioned at 7:05
Thanks you for highlighting this. Everyone keeps talking about the scheme but not mention the downsides
This sounds like shared ownership
Hi Naomi, they are very similar indeed!.
But there are some key differences, Shared Ownership typically requires an individual to get a mortgage and the choice of properties are new builds running under that scheme