| Author |
Message |
Renter
Joined N/A
| | Posted on Thursday, 06 November, 2003 - 07:54 pm: | |
Does anyone out there have any knowledge of Shared ownership,schemes in the area? I see that Scotchbrookes in Forest Hill is advertising one in the area. All feedback would be appriciated.
My research tells me that you buy a percentage of the house and pay a modest rent on the remainder. If this is true, then why are there not more in this area?
From a potential homeowner |
johnnyb7
Joined N/A
| | Posted on Friday, 07 November, 2003 - 07:36 pm: | |
There are several in the area, I live in one at 51 Devonshire Road. There is also one on Dacres Road I believe, near the German church. I can dig out the phone number of my Housing Association....watch this space.... |
renter
Joined N/A
| | Posted on Friday, 07 November, 2003 - 10:23 pm: | |
Excellent, What I am interested in is the benefits of the schemes as I am unable to buy outright.
Has it helped you? does it make financial sence?
Can you buy more shares, are the re-sales affordable for others etc etc? |
johnnyb7
Joined N/A
| | Posted on Monday, 10 November, 2003 - 07:08 pm: | |
Housing Associations offer a staircasing scheme, where you can buy progressively more of the property as you can afford to, and continue to pay rent on the remaining portion of the property that the Association owns. Mine is a member of the Horizon Housing Group, and their number is 020 8768 0890.
I pay a small mortgage of just over £100.00 monthly for a half share and somewhat more for the rented half, because there is a monthly service charge included.
My situation was similar to yours in that i couldnt afford to buy either, but in 1998, when I first entered the scheme, my two bed flat was valued at about £57,000, the average for the area now must be in excess of £150,000. |
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