Share to Buy - A fucking boring thread


#1

Hello friends and apologies in advance for how boring this is gonna be but I’d like to hear your thoughts, feelings and experiences in the share to buy property market in LDN


#2

I’m sorry Anthony, I don’t actually even live in London


#3

Thanks anyway


#4

nice one for ONLY making this London

I have a great story but not a chance am I sharing it now


#5

Not even in LondonBook mate


#6

Share your fucking boring country-bumpkin anecdotes as well if you must…


#7

People always say it’s a nightmare if you want to sell. I looked into it a few years back, seemed like a way to live in a nicer place than I could afford to rent, building up some share in it seemed a bonus


#8

no chance concrete boy


#9

Aye, this is the aspect I’m a bit worried about tbh


#10

I don’t really know what this is but my #bigopinion is that it’s the worst of all possible worlds.


#11

Pretty decent so far. Managed to get allocated a plot at the first place we looked at (we looked for new builds rather that existing properties). Moved in August and had no regrets. Couldn’t have afforded to get a 2 bed flat the size we have by buying outright. Mortgage, service charge and rent aren’t much more combined that what we were paying on rent on our one bed to a private landlord (though we have moved out to zone 3 from 2 which accounts for part of that). Guess the proof comes when we come to sell.


#12

How much of a deposit did you have to have for it? (don’t worry if that’s too personal a question or whatever) They seem to fluctuate massively based on the website


#13

I don’t know, apologies Antman.


#14

I do have a wealth of advice and things about purchasing a flat not via share to buy, should you need any.


#15

I can’t fathom a time in my life where I will need it but thanks very much


#16

I wish you the best of luck in your share to buy endeavour.


#17

I know two mates who did it (as in, they are mates who bought a place together, not two mates of mine who did it separately), I thought it seemed a bit short sighted and indeed it has proved so, since one entered a relationship not long after and wants to move in with him but is saddled with the share of a property and they can’t afford to buy the other out and so on.


#18

Well we had to have a financial assessment, cost of which was covered by putting down a deposit when starting the process. They checked earnings vs property value and what we had in savings and made a call. In the end we bought a 25% share with 15% of that being made up of deposit (turned out this was what was required to get a mortgage from a high street bank, meaning lower interest and perks like cashback when completing).


#19

Is this one of those things people do to try to convince themselves that living in London isn’t completely stupid?


#20

Aye, that’s pretty much it