Buy/rent combo

[Georginazn]

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.

[Chutzpah]

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.

[TracyG]

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.