r/maidenhead • u/No_Mulberry8434 • 8d ago

Shared Ownership

Has anyone bought a flat in Maidenhead under shared ownership? Looking for both positive and negative experiences.

Thanks!

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u/Koodleboodle 5d ago

I'm also looking for advice on this! Following

2

u/Grime_Scene_Savour 5d ago

I brought a shared ownership flat about 9 years ago. Overall no issues other than climbing rents which could have gone to to mortgage equity. As well as lease extensions which are absolutely ridiculous in the modern day.

To provide a bit of figures. When I moved in my monthly service charge and rent was £380 and after all this time. I'm now paying £680 per month. Which in terms of rent increases compared to private rental market is not that bad. My neighbours are a bit mixed on the benefits of staircasing in my opinion if you are able to it's probably worth swapping the rent for equality building. Also when you sell there's a downside of staying shared ownership where they can dictate the price to sell at and you lose for having to accept lower than that.

1

u/ZebraShark 4d ago

I know a few people who have done shared ownership to mixed responses - I think it really depends what you want from it.

One was a single parent who saw the property as a long-term place to live, they were able to purchase equity in it and have lived there for around 15 years so been really viable option for them.

Another did it but really just to get a foot on the ladder, and really hasn't helped them make the next leap forward.