Part Rent / Part Buy

[Love-Lee]

Hi Abers,

Does anyone have have feedback on whethere the above is a good option or not?

Thanks in advance!

[lorla]

It takes a bit of research I'm afriad. I thought this was the way to go as all my friends were doing it and were on a simialr wage and they were only just managing. I signed up with the Nottinghill Housing Trust and also registered with estate agents and found that the repayments on a full mortgage compared to the part-rent part-buy weren't always so different.

One of my friends is now kicking herself for not looking into it properly because I bought my property in full on a mortgage and repay �800 a month.....she has bought 25% of hers and rents 75% and her repayments are �750 per month - both are 2 bed flats. When she sells, she'll onyl get 25% of the sale price, where-as I'll get 100%.

So my advice is check it all out - it sounds like it should make things much more manageable but it's not always the case.

[Love-Lee]

Thank you very much, it's like a minefield of info out there and it's easy to think that it's a fabulous idea to get you onto the property ladder but of course your example has shown that isn't always the best solution. I'll def do more reaserch on the subject but thank you for your comments.