vjtmcl

I don't understand what is meant by shared ownership, e.g in a propety like Elderflower Mews, please explain?

Sorry, listed in Nowich property

Asked on Sep 10 2010, Home Finance in Norwich | Report content

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  Mark Heneg...

  You own a % of the property either by ways of mortgage or cash in a lease format, the remainder is owned by a housing association to whom you pay a subsidised rent. You are entilted to purchase remaining share if you want up to 100%. When it comes to selling the property your share is callucalted at your % of the entire property. It is a cheap way of getting on the housing ladder.

  Answered on Sep 11 2010, Report content

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  garethb1

  Mark is right, basically it is a subsidised purchase scheme, in which your part buy and part rent.

  Answered on Sep 14 2010, Report content

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