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Alfie29

Mortgage of 151k or half?

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I have found a place I really like and it's 151,000 but it's an shared ownership so I only want to have 40% of the place at the moment. So that's 60,400.

 

Does this mean that I have to find the full price of 151k of just need a mortgage of 60,400? Bit confused and wondering if it REALLY is that easy to find a place that cheap after all lol :/


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from what has been advertised locally to me,, if there is shared ownership say you buy 50% and a Housing Ass owns the other 50% then the Housing Ass rent you the other 50% at a lower rent, and you are able to purchase the remaining 50% in increments..

 

may be different where you are.

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It means you would raise a mortgage for the 60,400 and would pay rent on the rest.


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Thx for ur advice everyone! :)


RLP are a con PLEASE DON'T PAY THEM TO DO MORE! IGNORE ALL LETTERS AND CALLS! :)

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