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Can you explain how the 50% ownership works?

Lots of Properties are advertised as 5o% ownership. How does this work and what are the consequences when you wish to sell?

Asked on Apr 25 2010, General in London | Report content

Answers (1)

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  • Shared ownership schemes are normally property owned through a local housing association and offered as a low cost start for home ownership. In order to buy you will need to qualify for the scheme which most people will. You will own half of the property either by way of mortgage or cash, you will then pay a subsidized rent on the other 50%, so it is cheaper way of living in a property. On most schemes you can buy further % of the property up to 100% ownership. When it comes to selling the value is determined by the housing association that owns the other 50% and must be sold for that figure, not a penny more or less. You will normally have to offer it for sale through them first as well. They are a great way of getting on the ladder as you will only require a mortgage deposit of % share you are buying. Hope this helps.

    Answered on Apr 25 2010, Report content

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