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Shared Ownership of property

If a property is for sale for eg: 50,000 with eg a 40% share in ownership - does this mean that you could buy the property out-right for 50,000 or, is it only the 40% you are buying for 50k? Also, do you have to meet certain criteria for shared ownership? We live abroad and thinking of returning to UK in the future but I do not want to get a mortgage, we will be mid 50's by then anyway and in a position to put down 50-60k as deposit. If the rest of our savings could 1. cover the rent or 2. buy the remaining 60%, would this be an option?

Asked on Jul 31 2011, General in London | Report content

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  • Shared ownership is for first time buyers who have been priced out of the market now as property is too expensive. So it sounds like you would not be eligable if you have the money to buy outright or have a deposit of 50/60K. The amount you are seeing advertised is the share of 40% not the total price.

    Answered on Aug 1 2011, Report content
  • I think it would be on an individual basis with whoever is selling the property. I would start to look at property in the area you would like to live and then speak with the local agents to determine the best option for you.

    Answered on Aug 1 2011, Report content

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