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  • First Time Buyer

    Young people unaware of options

    A study has found that 60% of 18-24 year olds are unaware of the existence of shared ownership. And of the 40% who had heard of it only half knew what it actually meant.

    How can we educate FTBs about their options? Had you heard of shared ownership when buying?

    Source article

    Watch our video on shared ownership:

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    They've only got to look on Rightmove surely?

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    That, and save up a decent deposit so they can avoid buying into the nightmare that is shared ownership!

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    Agree completely!!

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    Share ownership can work, but only if the parties involved have a contract in place outlining the terms and conditions of the shared ownership.

    Otherwise, it's likely to cause more stress and hassle than it's worth!

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    In what imaginable instance would there NOT be a contract?

    I don't think that's the issue with Shared Ownership.

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    I’m not referring to the standard contract which will be in place. I’m talking about a contract that the parties have amongst themselves outlining the additional terms that they wish to have in place.


    What do you feel the issue with shared ownership is?

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    I`m struggling to think of why you would want two contracts with a S/O

    Can you give an example of some of the  typical additional T&C `s you are thinking about

    And also why wouldn't those T&C`s  have been included and worked into  the standard contract in the first place

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    Jonathan Clarke. http://www.buytoletmk.com

    With SO there is typically no negotiation on contract terms - so you take it or leave it.

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    The simple contract in place says effectively - pay the 3 sets of bills - Rent/Mortgage/Service Charge - failing which risk being evicted and losing deposit monies.

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