Shared Ownership Mortgages

[Wrighty22]

Anyone had any experiences with these, know anything about them?

Any advantages / disadvantages?

[Strokes]

Only through friends, nobody has said anything positive so I would keep well clear.

[jonthefox]

Rip off. Don't bother.

[Webbo]

We bought our house through one 21 years ago. We bought 60% and rented the other 40%. We bought the other 40 % 6-7 years later. I can't thank the housing association enough really helped us buying the other portion. Worth doing if you can't afford to buy the whole thing at once.

[The Year Of The Fox]

Isn't it quite rare nowadays to be allowed to buy the whole of the house eventually?

[Jace]

Biggest downside I can think of them is they can be much harder to sell as you are only selling to a limited market, my advice would be if you are looking to buy and don't have much of a deposit look for a 5% deposit starter scheme instead 

[Kyle_Le_Don]

I Darent get a mortgage in case we have a economical crash.

[Strokes]

I Darent get a mortgage in case we have a economical crash.

A boom is way more likely

[mrsizzett]

rip off basically, i looked into it before buying mine outright, and would have had to pay mortgage & rent each month, way more than i pay for all mortgage!!  my current neighbours had bought theirs on shared ownership, when houses were cheap about £14k  had extended it at their own expense then after the 25yrs mortgage was paid off they bought other half off them and they had included the extension in to the new valuation and then had to take another mortgage out for £65k and will have that to pay off for another 20 years !!