Shared ownership may now be the only route to buying a home – but beware the pitfalls...
11 months, 2 weeks ago

Shared ownership may now be the only route to buying a home – but beware the pitfalls...

The Independent  

Is shared ownership now the only way for young people to buy their own home? So let’s look at the deposit on a £200,000 property: it would come to £20,000 with a 90 per cent mortgage or £10,000 with a 95 per cent mortgage. Here’s how it works: typical schemes see buyers stumping up for between 10 and 25 per cent of a new-build property, although some will allow purchasers to buy up to 75 per cent at the outset. In the case of a 25 per cent share, however, the deposit on our £200,000 home falls to £5,000 with a 90 per cent loan and £2,500 for the 95 per cent. and remember, shared ownership properties are subject to repossession if you fail to keep up your mortgage repayments – as with any property.

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History of this topic

In this cost of living crisis, shared ownership isn’t the housing lifeline some had hoped
2 years, 1 month ago

In this cost of living crisis, shared ownership isn’t the housing lifeline some had hoped

The Independent  

Timea Szabo knew exactly what she was getting into when she bought a shared ownership flat in south London – or so she thought. Many shared ownership households show characteristics of being financially vulnerable, so you’re taking that demographic and exposing them to high, and potentially unaffordable, rises built into the model.” The smaller the share that owners could afford …

Is shared ownership a solution or a shackle for first-time buyers?
3 years, 1 month ago

Is shared ownership a solution or a shackle for first-time buyers?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. One way onto the ladder is via the government’s …

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