Residential Shared ownership scheme

[iffy]

Any thoughts on this subject? Is it worth it?

 

[Ozzy]

I'm not a fan of it but I also appreciate the younger generation coming into first time buying for their first home may not have much choice, seeing as house prices have climbed significantly higher rate than wages. So they're stuck.
The issue is no different in many ways than a business partnership, if you go into house shared ownership with someone and then you fall out (like a divorce).

I also don't like it morally when the shared ownership provider is a property developer, they're getting two bites at the cherry and I'd argue profiteering on the vulnerable and those unable to get onto the property ladder because of how screwed up property prices are.

 

[IanSuth]

You can get stuck, particularly as lot of the part ownership schemes are related to "starter homes"

Imagine you are short of cash do can only afford to purchase a 50% share of a £100k house

You have a child and need to move up

The house is now worth £150k and you need to move up to a house worth £250k - but remember you only own 50% (so £75k) so you are looking at trying to fund a £175k jump unless you can find another part ownership scheme