shared ownership

jobless

hey there,

I was just wondering if anyone can help me with a question about shared ownership....
If someone enters in shared ownership and are half paying rent/ half paying mortgage.....would the total amount paid not be the same as a full mortgage payment?.....or am i wrong?

is shared ownership only really then for those without a deposit?

Victor

No, the rent portion would typically be lower than the mortgage.

Remember the council's Housing Deptartment's job is to house people, not to make exorbitant profits on hte housing market.

Jonnie_Onion

As a matter of interest, how much lower percentage-wise?

WizZard

They won't allow your total outgoings (to them) be more than 35% of your net income.

Drapper

http://www.boards.ie/vbulletin/showthread.php?t=2054929973

all the info you need !¬ the Affordable Homes PArtnership resouce

Jonnie_Onion

You can still get shared ownership on a normal house, outside of affordable housing, AFAIK.

Just to answer my own question, rang DCC, the rent is about 70% of the mortgage repayments.

Drapper

Jonnie_Onion wrote:

You can still get shared ownership on a normal house, outside of affordable housing, AFAIK.

Just to answer my own question, rang DCC, the rent is about 70% of the mortgage repayments.

yes but its dealt with the same way as the Affordable Housing

microgirl

And to be honest, even it the repayments ended up being much the same, not having to come up with €20K+ for a deposit is a hell of a big difference!

IMO the only really crap thing about the Shared Ownership scheme is that (unless things have changed radically in the last couple of months) the maximum property purchase price they will allow is so low as to mean nothing outside Affordable Housing is -ahem- affordable anyway.

Drapper

Affordable is the way forward in my eyes.

Jonnie_Onion

microgirl wrote:

And to be honest, even it the repayments ended up being much the same, not having to come up with €20K+ for a deposit is a hell of a big difference!

IMO the only really crap thing about the Shared Ownership scheme is that (unless things have changed radically in the last couple of months) the maximum property purchase price they will allow is so low as to mean nothing outside Affordable Housing is -ahem- affordable anyway.

250K is the limit. Can anyone find a property for 250K in the DCC area?

Drapper

Jonnie_Onion wrote:

250K is the limit. Can anyone find a property for 250K in the DCC area?

Fingal has a list of Affordable Units less that 250 and South DUblin has a few in Lucan too

Call'em