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Thames Vally Shared Ownership

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  • 03-03-2005 5:45pm
    #1
    AcID ZeR0
    Closed Accounts Posts: 2 ✭


    Does anyone know where I stand on this?
    Thames Vally own a share in our house I think about 50%. From the day we moved in we've been paying rent to them obviously for the share they own in our house. The rent has now gone up to £160 pm. Not a lot where rent is concerned I know but all of that £160 is lining their pockets we're not paying any money back on the house with that.
    To buy them out it'll cost £60,000. I was wondering would we be able to remortgage and pay them off so we get a proper mortgage that way?
    The payment of £160 a month is fine it's just the fact that it's not doing anything to pay of what we owe only just lining their pockets which gets me.


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    #2
    MrPudding
    Registered Users Posts: 9,788 ✭✭✭MrPudding


    As far as I know you are perfectly entitled to try to buy them out. Speak to the provider of the mortgage for you half of the house to see if they will advance you the rest.

    MrP


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    #3
    pablo21
    Registered Users Posts: 728 ✭✭✭pablo21


    Depends on whether its a trust scheme or shared ownership. Shared ownership will allow you buy and Trust wont. If your paying rent it's not trust so you should be able to purchase!


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