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Help to Buy and Shared Ownership

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By (user no longer on site) OP   
over a year ago

Has anyone used any of these schemes? What has your experience been like?

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By *adyBugsWoman
over a year ago

cognito


"Has anyone used any of these schemes? What has your experience been like?"

Yep! They are great for getting on the housing ladder but so far my experience of housing associations is rubbish so don’t expect an easy journey if you need their help and you’ll not be disappointed lol

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By (user no longer on site) OP   
over a year ago


"Has anyone used any of these schemes? What has your experience been like?

Yep! They are great for getting on the housing ladder but so far my experience of housing associations is rubbish so don’t expect an easy journey if you need their help and you’ll not be disappointed lol "

So I am told by many. Seems its a Developer market.

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By *adyBugsWoman
over a year ago

cognito

It is a good scheme, or it is for me as a single person but it does come with some restrictions but the way I see it is it’s not my forever home and it’s affordable to me so I like the freedom it’s given me. I was private renting before and it’s harder to save money when you are giving it to someone else especially when rent is higher than paying a mortgage.

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By (user no longer on site) OP   
over a year ago

Thanks

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By (user no longer on site)
over a year ago

Looking for somewhere to rent in the south east myself looked at rent to buy and help to buy scheme's

I just need Something big enough space for a double bed and wardrobe TV etc for now with use of a kitchen and bathroom.

I know it's not the right place really and I'm not potentially looking for something that's cheap or has benefits! Need something long term, maybe year or so?

Any questions please ask!

I'm a very respectful clean and tidy person

Friendly, Reliable/trustworthy!

If that helps lol

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By *icolerobbieCouple
over a year ago

walsall

I’m not entirely sure how it works, but are you paying a mortgage and rent every month?

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By (user no longer on site)
over a year ago

Yes that's about it

Plus services sometimes

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By *icolerobbieCouple
over a year ago

walsall


"Yes that's about it

Plus services sometimes"

Wouldn’t you be better off spending the rent part on a mortgage and owning the property outright?

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By *inaTitzTV/TS
over a year ago

Titz Towers, North Notts

One of my friends was saying the other month that they are paying a huge monthly rent, but when they apply for a mortgage, because they work in the arts, no one wants to know, even though the mortgage is a lot less than their rent.

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By *icolerobbieCouple
over a year ago

walsall


"One of my friends was saying the other month that they are paying a huge monthly rent, but when they apply for a mortgage, because they work in the arts, no one wants to know, even though the mortgage is a lot less than their rent. "

Must be to do with average earnings or maybe guaranteed earnings I’m guessing. Not ideal for that person though.

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By (user no longer on site)
over a year ago

Avoid shared ownership.

Help to buy is great if you planning on staying a while, buy something to grow into rather than something you will grow out of

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By *adyBugsWoman
over a year ago

cognito


"Yes that's about it

Plus services sometimes

Wouldn’t you be better off spending the rent part on a mortgage and owning the property outright?"

You are correct but to get a mortgage you need at least 10% deposit. With help to buy it’s only 5% and your mortgage amount is smaller so you’ll be more likely to be accepted for one as affordable especially if you are a single person.

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By (user no longer on site)
over a year ago

Avoid like the plague

Terms are not stacked in your favour

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By *adyBugsWoman
over a year ago

cognito


"Avoid shared ownership.

Help to buy is great if you planning on staying a while, buy something to grow into rather than something you will grow out of "

Totally agree with you if that’s an option for people at the time but it wasn’t for me. I was being evicted (the owner wanted their property back for a family member) and I had limited time to find a home. I was looking at continuing to pay extortionate rent to someone else for something with no space plus no investment and a shared ownership on a brand new build came up at the same time as I was looking so it was the better of a bad choice. The housing market is too expensive where I am to buy outright on my own especially with little deposit to hand so this worked out for me.

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By (user no longer on site) OP   
over a year ago

Mixed views it seems

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