Skip to main content
Close Button
Donate
  • Replies 26 replies
  • Subscribers 105 subscribers
  • Views 861 views
  • Users 0 members are here
Options
Related
Hints and tips
  • To quote someone's message, first select/highlight the relevant text, and then use the Quote button that appears
  • To "mention" someone, type @ followed by the start of the forum name, and choose from the list; that person will get a notification of being mentioned

Renting? Shared Ownership?

andi
27 days ago

Hey I know I keep going on about moving I’m just finding it hard and I don’t think my folks get it so I can’t really talk to them much. 
looking at renting isn’t really going great I’m just struggling with the whole concept. However it struck me today that rather then saving for a home and renting why don’t I do shared ownership. But then I don’t really know what that is where it would lead me and what happens so could someone please explain to me what shared ownership is? In simple terms because Google is confusing me and what the pros and cons are 

Parents
  • 24 days ago

    I got my home through co-ownership (as they call it where I live) and highly recommend it. I think it's a fair generalisation to say that for various reasons we autistics have lower incomes, so an arrangement where the rent 'half' (or 40% in my case) is devoid of the overheads a private landlord would add really does help considerably, making the overall monthly cost about a fifth less than it would for a full mortgage.

    It's as close as you can get to renting with a guarantee of a permanent stay, and you can also have much more freedom with how you decorate, renovate... or exercise your right to do neither! 

    Hope all goes well for you with getting somewhere...

  • 24 days ago in reply to Shardovan

    Oh, yes - practicalities: I spoke to a free mortgage adviser (they get a small amount via the banks in the event of a successful sale - not sure how exactly) as my first step. Then when a property was found and I put my offer in, that was the time to ask co-ownership to help.. and thankfully they agreed. Subject to their own survey and ultimately getting the place re-wired while taking the risk that the sale might fall through... but it was a risk I considered worth it for my dream home. Which I'm so lucky to say I have. It's the house I want to be found dead in. Or, to put it more pleasantly euphomistically/conventionally... my forever home. 

Reply
  • 24 days ago in reply to Shardovan

    Oh, yes - practicalities: I spoke to a free mortgage adviser (they get a small amount via the banks in the event of a successful sale - not sure how exactly) as my first step. Then when a property was found and I put my offer in, that was the time to ask co-ownership to help.. and thankfully they agreed. Subject to their own survey and ultimately getting the place re-wired while taking the risk that the sale might fall through... but it was a risk I considered worth it for my dream home. Which I'm so lucky to say I have. It's the house I want to be found dead in. Or, to put it more pleasantly euphomistically/conventionally... my forever home. 

Children
  • 24 days ago in reply to Shardovan

    Though of course, some certainty that you want to be in the place you've chosen for the long haul helps considerably. Otherwise the factors that others have mentioned - falling value in uncertain times etc. - could be a downside. So, choose wisely... but if you do I think you'll be happy.