Does anyone have any experience of, or thoughts on, the deals whereby you part rent, part buy a property? I have some young friends keen to set up house and begin life together and they are considering such a venture, but I have no knowledge or advice to offer.
Buy/rent combo
- Thread starter Georginazn
- Start date
From experience, they are often only available to key workers and low earners (another reason not to go to uni and get a slightly better paying job!!) if a government scheme.
If you with to make any modifications you need the other owner's consent - not sure how difficult this is.
And I'm sure I've heard that some of the combination of rent and mortgage can be huge, it does add up.
If you with to make any modifications you need the other owner's consent - not sure how difficult this is.
And I'm sure I've heard that some of the combination of rent and mortgage can be huge, it does add up.
I've heard a lot of criticism over the long term expense of these schemes. I think it is something that would need to be thoroughly researched and well thought out, comparing the costs of buying through a part ownership scheme against the costs of renting outright while saving for a deposit.