Search the Community
Showing results for tags 'paradigm'.
Found 1 result
Hi All I have been living in my shared ownership property since July 2008. I have a property where I can only own 80% of the property. I pay rent on the remaining 20% and this rent is based on the unowned %. I can never own 100% so will always be resoponsible for at least 20% rent. That rent always every year goes up by by inflation (RPI) plus .5%. This 80% max ownership was put in the lease due to the local council planning restrictions. However each year the property is dropping in value and I am responsible for 100% repairs. Is anyone else in this position and does anyone who if there is a way of buying the whole thing so I am not liable for the remaining rent, which could in theory become more than renting a private rented property. OR Even a way of getting out of the lease if the rent becomes too expensive (Even if it means handing it back to them and I loose all that was invested) Every time I try to comunicate with them the atitude I get is "YOU SIGHNED THE LEASE" and that I should have looked ito the finer details with my solicitor and asked more questions. Any information or similar stories from people that have found themselves in a similar situation would be usefull. Also note that I do not think this issue is isolated to Paradgim. Many Thanks