are part rent part buy mortgages any good, wot roughly would be monthly payments on a 140000 house inc rent?

Answer 1

Here is how you can roughly calculate:
Find out from the Housing Association how much the rent is, and remember there is also a service charge in addition to the rent.
Also ask them how much of a percentage is for sale (could be anywhere from 25% to 75%), and therefore how much you would need to pay (and therefore borrow) to buy your share. Once you know how much you need to pay, you can then go to any bank's website and use their mortgage calculators to figure out what the repayments would be. Obviously you'd want to shop around for a good mortgage deal, but just any bank or building society would do to give you an idea.

Hope this makes sense. It's a little difficult to give you a more specific answer without knowing how much of a share you would be purchasing and how much the rent and service charges are.

Answer 2

We have a 65% shared ownership on a 2 bedroom house and pay about £ 400 mortgage and £ 150 rent (in South London though, so prices might be a bit high!) We couldn't do it any other way so are grateful for that first step onto the ladder!

Only warning I would give is make sure you're going through a social Landlord like a Housing Association, as a lot of developers are now figuring out that this is the only way people can buy and are bumping up the prices to make much more money than the property would otherwise go for (Social Landlords are not allowed to make a profit off you!!)

Not as many lenders will do Shared Ownership, so do your homework before comitting to a mortgage deal-we almost lost our application fee because one of the Bank staff told us it was all fine and then at the very last minute they pulled out and said they didn't do shared ownership!!

Hope all goes well!

Answer 3

We have one of those! We pay about £550 all told (£126 rent, the rest is mortgage with insurance). We got our mortgage through Halifax and they were brill.
The only thing I would warn you about is the legal fees - they are very expensive compared to an out and out buy because it is treated as a leasehold.

Answer 4

all and sundry must be prepared to pay their proportion of in spite of it may be. purely because of the fact he's "boyfriend" would not entitle you to a loose journey. you should be prepared to make a contribution to the expenses. Paying "lease" sounds unusual tho. besides the undeniable fact that, family members companions seems to advise which you ought to pay "lease" to stay there. If a real boyfriend, this would not sound like a solid relationship. Him asking you to assist with utilities or a loan could sound familiar, yet not "lease" thinking there is not any loan. You first ought to learn your adulthood first. Why are you living with some guy once you may not legally get married. Your relationship is unusual first of all. in case you like a relationship to final, attempt doing it the properly suited way. improve up, get to be attentive to somebody, fall in love, and then get married. Your relationship will stand a miles better hazard of lasting than your present day one.