What's shared ownership please?
Asked on Mar 6 2012,
General in Bungay |
See my previous replies on this subject. You own part the property and the other part is leased to you and you pay rent on it. Some allow you to eventually buy the whole thing, some don't
Answered on Mar 7 2012,
Shared ownership is a scheme where as a purchaser you buy a percentage share of a property, the remaining share is owned by a developer/housing group and you pay a rent based upon this value on the remaining share. As a rule, the mimimum share available to purchase initially is around 25%, however this can vary and many developers will allow you the option of purchasing a higher share (usually in 10% increments) after around a year of ownership. Please feel free to call me on 01502 710180 if you would like to discuss further.
Web reference: http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSel...
Answered on Mar 16 2012,
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