What are possible variations of shared equity ownership?
|
  |
|
|
| Author |
Message |
erskine
Apprentice
Joined: 06 Aug 2005
Posts: 4
|
 Posted: 02/04/10 - 11:09 Post subject: |
 |
|
| Hi everybody. I’m Peter and I have a question about shared equity ownership. The thing is that my girlfriend and I are considering an option of living together. We both rent our places, but we would like to get a bigger flat and in better neighborhood. To us, renting is kind of wasting the money so we would like to buy a property. Shared equity seems like a good option. Can someone tell me what are possible variations of shared equity ownership? Thank you in advance. |
|
|
Back to top
|
|
|
|
 |
jennie
Apprentice
Joined: 23 Oct 2008
Posts: 5
|
| Posted: 03/05/10 - 22:09 Post subject: |
|
|
| Hi there Peter. In general, shared ownership schemes are getting very popular nowadays. Their main purpose is to make it easier for first time buyers to get their own property. Shared equity ownership is just one type of shared ownership schemes. Variations of shared equity ownership are only about percentage of the property you buy. As you may know, in case of shared equity ownership you buy only the part of the property, while you pay the rent for the use of the rest of it. on one side you have traditional shared ownership, where you buy from 25% to 75% of the property. For the rest, you have to pay the rent. On the other side you have shared equity schemes where you buy from 60% to 70% of the property. In this case you don’t have to pay the rent for the remaining part. However, you can buy that part only in some special cases. So stair casing may not be the option here. My advice is that you should carefully take all the details into account and then make the right decision. Good luck with getting your first property. Bye! |
|
|
Back to top
|
|
|
|
|
|
| |
All times are GMT
|
| Page 1 of 1 |
Related topics: | |
|
|
