Shared ownership

[badgerchops]

has anyone had experience of shared ownership.  I have been accepted on a waiting list for a property. How long does this normally take and are they a successful idea

Thanks guys

[andyjevs]

I bought a house 6 1/2 years ago through Orbit who did shared ownership. At the time, you could do a 50/50 buy and pay a subsidised rent on their half. You can then "staircase" (buy further shares in the property at the current market valus) in the future. It is a good way of getting onto the property ladder and i would do it again. Good luck

[k8tkoo]

Hi there,

I'm living in a shared ownership flat at the moment. I applied to be on the council housing register last august, applied for the property in Oct and moved in Feb this year. (would've been sooner but had a bit of trouble getting a mortgage - shop under the flat etc it's a long story!) As Andyjevs says, it's a brilliant scheme, well done for getting signed up to it!