MBL: Shared Ownership

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 9 December 2020

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you’re priced out of the housing market, could shared ownership help you onto the property ladder? Offered by housing associations and private developers, these schemes allow you to buy a share in a property while paying rent for the portion that you do not own.

Paul Lewis and guests answer your questions about the pros and cons of shared ownership. How does it work and what are the costs, responsibilities and restrictions?

E-mail your questions, thoughts and experiences now to [email protected]

On the panel will be:

Kelly McCabe, Managing Director, TMP The Mortgage People Amy Nettleton, Chair, Shared Ownership Steering Group Giles Peaker, Housing Partner, Anthony Gold Solicitors

Presenter: Paul Lewis Producer: Diane Richardson Editor: Emma Rippon

Transcript

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0:00.0	You're about to listen to a BBC podcast, but this is about something else you might enjoy.
0:05.4	My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds.
0:10.8	The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that.
0:17.5	With music on sounds, we offer collections and mixes for everything, from workouts to
0:22.4	helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put
0:28.3	together by people who know their stuff. So if you want some expertly curated music in your life,
0:35.0	check out BBC Sounds.
0:41.2	BBC Sounds, music, radio, podcasts.
0:45.8	Hello, this Moneybox Live podcast is all about shared ownership.
0:50.9	You buy just a part of a flat or house and rent the rest, and over time you buy more.
0:53.2	One day, you never know, perhaps all of it.
1:11.1	Shared ownership is supposed to be a low-cost way to begin the process of owning your own home, but how well does it really work? What are the advantages? What are the costs? How practical is it to own part of a home and rent the rest? You can do shared ownership throughout the UK, but the rules and details are different in Scotland and Northern Ireland.
1:12.1	Now I have three experts here to discuss this and answer your questions and discuss your
1:16.2	points, but before we meet them, let's take the first call from Richard.
1:20.1	I listened to your programme a couple of weeks ago and I, frankly, I thought it gave a very
1:23.5	poor representation of shared ownership.
1:26.6	Okay, well, tell us what, tell us your experience and what's good about it.
1:31.0	Okay, okay.
1:32.1	Well, you know, my way of thinking is that it should be thought of not as a poor relation
1:36.7	to buying a property, but as a great alternatives of renting, really, because very often
1:42.9	it can be cheaper to buy a shared ownership property
1:46.1	and live there than to rent from a private landlord.
	...

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