Shared ownership - its a bit of a minefield as you would expect from a government initative- i agree with all of the above posts - It is a very expensive scheme and is hardly "affordable" . you will often end up paying as much as a mortgage . However , it is still a step on to the ladder . I am slightly involved in property and have done alot of research into past market trends . For the last 30 years property prices have doubled in price every ten years , in some instances less-8-9 years !. Property is a good bet these days - If you go into a bank and ask them to lend you a 100k to invest in their banks shares they would laugh you out of the door , if you asked for a 100k to invest in a flat/house they are all ears- this is because they know the market trends and they know that the prices will continue to rise. A house owner would have walked away if you told them the house they owned that cost 100k in 1996 would be worth 200k in 2006 - but its happened .So although the government get rich from this scheme , it is often the only way to get on board without raising a huge deposit. You shouldnt expect to make huge equity on your house/flat , but your on the ladder and you will make SOME money .
It can be cheaper to get a bank loan to cover the deposit . the interest rate can be a few percent higher but you own the house ouright and the increase in equity will be 100% yours . Im no financial adviser ,but im young and i have bought property so im just trying to offer a bit of my experience .Hope some of it is usefull ---
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