J
jen009
Guest
Hi can someone help me. Me and my boyfriend and going to buy a house in Aug and we have been told that Shared Ownership is the way to go. Can any1 help me that has actually done this. Is it a good move.?
Other than that, your montly outgoings (mortgage + rent) will not be any less than if you were paying the mortgage on your own.
A close friend did this years ago and regretted it.When they eventually went to buy the house outright it was very expensive - more so the the increase in the property price at the time. She and her husband would not recommmend it.
Try and save like mad to get a decent deposit together. Write down for one or two weeks every cent you spend(even for the smallest things news paper etc) and review it afterwards and there will be a few things on it that you could do without for a while.
Good luck.
Are they still doing shared ownership? I think they have stopped it where I am from (Cork City). Im not 100% sure though.
Jen009
you don't say whether you applied to a traditional bank/building society for mortgage approval
you can get 100% finance as a first time buyer and your income less any outgoings will determine what you can borrow, maybe if you establish that first, it could then assist with your decision to go forward for Shared Ownership/Affordable Housing or not
regards
DeirdreL
www.rea.ie
When did you get this approval? My information is that any previously issued approvals by the City Council are now invalid and that the scheme has been discontinued.