Part owned properties... who can buy???

Annna | 10:47 Tue 03rd Feb 2009 | Business & Finance

3 Answers

There are quite a 'few part buy: part rent' properties about at the moment. I would like to get one nearer to work during the week. I could afford to buy one of these outright and keep my current home for weekends and the rest of the family. The rent of �150ish a month would be less than what I spend on petrol, it means less travel and I could get a lodger in to help with the rent. Is this allowed? Are they only for those on low incomes?

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Jenga

From what I know about them there are strict rules about who is elegible to buy one. It is for those who are buying their first property and need help getting on the market. It is not for people buy second homes to rent out. You are vetted before they let you buy if they are housing association part buy properties.

buildersmate

Precisely as above.
The more normal term for them is shared equity.
They started as a scheme for Key Workers, but have now been extended more widely - for those wanting a first home.

Annna

Question Author

Thank you both. Makes sense.
Anna

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