nathan210705
Registered User
- Messages
- 75
Has anyone done this already? if so, how much did your monthly repayments increase by?
Folks,
Currently payin approx €1k per month. €500 mortgage and €500 rent to the council.
Are your Landlords (The council) paying half of the managment fees for their half of THEIR property?..... No?.... strange that....
Do they have the right to sell their half of their property? Do they have the right to bring their guests into their half of their property? No? Strange that.
People need to get away from the idea that "shared ownership" means you and the Council have both equal ownership rights and equal ownership responsibilities. That is NOT what it means.
As for shared ownership I understood you bought a % and RENTED a %. And whom do you rent from???? A LANDLORD.
I have Shared Ownership and never got a rent book. I signed a contract with them that I pay 50% rent on the property but that's about it. Again, this is not a Landlord situation in the classic sense.Do these people have rent books for the % they rent? Yes, I believe they do.
No it doesn't. It never goes down only up. When I once inquired why my rent is going up while the rent market is dropping, they advised me that this is in the contract. Rent market can go either way and it can change by the month or quarter while with S.O. your rent goes up once a year at a fixed %.Does their rent go up as well as down? Yes it does.
again different situation. Brooklyn is right in saying "People need to get away from the idea that "shared ownership" means you and the Council have both equal ownership rights and equal ownership responsibilities."If I was a landlord of a property with management fees who would have to pay it? I would, not the client so how do they get away with it?
It's all in the contract you sign before getting the keys. Nobody forced anyone to sign it. You get a "discount" on the house under the A.H. scheme and it is up to the buyer if they chose S.O. or a normal Bank Mortgage.
Askonline
So, you seem quite happy with your rent going up and the council not having to pay their rightful part (IMO) sharedownership part or management fees or repairs.... This is quite baffling that you are defending the status quo and dont encourage it to be challenged. So your rent can only go up and not down over the years? If so, its clear you didn't understand the contract properly either if this is the case. I'd never sign a contract if I understood it to say that.
I'm a bit perplexed by this obtuse view that people can accept that the council remain to have % ownership with zero responsibility in the case of S/O. They are the flippen landlords, classical or not, I didn't realise there were different flavours of landlordship. If you guys do have S/O why not challenge them? I would.
don't know what baffles you but as said, the facts weren't hidden from anyone so now to make a fuss because your circumstances have changed and this "system" doesn't suit you anymore - to me, it's not worth wasting my energy over in "fighting" it.This is quite baffling that you are defending the status quo and dont encourage it to be challenged.
Well Zen, apart from my Bin Bills DCC never bothered me (yet - fingers crossed).
I agree that rent is dead money and in a long run, I will look for ways to pay DCC out of the 50% but as said before at the time and still now it financially suited me as I had no other way to get a house and I am still paying less than I did before on the open market with a rented apartment.
There was another thread on AAM recently discussing the buy-out option. I'll see if I can find it later. The monthly payments go slightly up (of what I heard) if you go 100% but you have to pay legal fees all over again...
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