Property News · March 26, 2016

Is shared ownership a vital first step on the property ladder, or a slippery slope?


Shared ownership can be cheap – but it can also be full of pitfalls. We talk to buyers who admit they have mixed feelings about the schemeIn April, a new era for shared ownership begins, with the government relaxing the rules on eligibility and opening it to anyone with a household income of less than £80,000, or £90,000 if you are buying in London. The change will mean 175,000 more people across the country will be able to buy.For some, shared ownership is a bonanza: buyers only have to stump up 25%-75% of the price of a property, pay only a small deposit, and are charged a subsidised rent on the portion of the home they don’t own. When they are in better shape financially they can “staircase” up to full ownership. Continue reading…

Source : theguardian.com
Read more…Is shared ownership a vital first step on the property ladder, or a slippery slope?

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