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What does 50% shared ownership with the local council mean, financially?

Asked on Jul 26 2011, Home Finance in Weymouth | Report content

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  • It means you will own half of the property with the council owning the other half.

    Answered on Jul 27 2011, Report content
  • Hi, This means that you own 50% of your property and are therefore paying for 50% of the total payment whereas the council own the other half. This sounds like a shared equity property and therefore after a certain period of time you could be liable to pay for the additional 50%of the property. Shared equity plans allows buyers to afford homes at a quicker pace than they usually would with the ownus of over a period of time the buyer to take on board the rest of the equity. We hope this helps.

    Answered on Sep 13 2013, Report content

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