Money Box Live: Shared Ownership
Money Box
BBC
4.2 • 825 Ratings
🗓️ 13 June 2018
⏱️ 29 minutes
🧾️ Download transcript
Summary
A government-backed scheme that allows you to buy part of your home and rent the rest. It's often advertised as a more affordable way for first-time buyers to get on the property ladder. But how affordable is it, especially when rent and service charges go up? Paul Lewis and guests explore the pro and cons of this kind of home ownership, which avoids the need for a hefty deposit and allows you to keep buying a bigger share of the home, but which can also limit who you can sell your property to and evict you if you get behind with your rent.
Guests: Amy Nettleton, Aster Group housing association Jaedon Green, Leeds Building Society Giles Peaker, partner and housing specialist, Anthony Gold solicitors
Presenter: Paul Lewis Producer: Sally Abrahams Editor: Andrew Smith.
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. |
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| 0:28.1 | put together by people who know their stuff. So if you want some expertly curated music in your |
| 0:34.1 | life, check out BBC Sounds. This is the BBC. |
| 0:40.9 | Welcome to the download of Moneybox Live, the programme about your money and shared ownership. |
| 0:46.4 | Hello, you want to buy your first home, but you can't afford the deposit or borrow enough to pay for the rest. |
| 0:52.3 | If that's you, then shared ownership might be the answer. |
| 0:56.1 | Instead of buying all the flat, and they usually are flat, so summer houses, you buy a quarter of it |
| 1:01.0 | or a half, perhaps more, and then you rent the rest. Shared ownership is a government scheme, |
| 1:05.7 | run through housing associations, and when you hear the phrase affordable homes, then some of them |
| 1:09.8 | will be made affordable by shared ownership. |
| 1:12.3 | Today, Moneybox Live looks at the pros and the cons. Is it cheaper? What expenses should you be prepared to pay? |
| 1:17.9 | Is buying half a home really a step towards buying a whole one? And just what is, staircaseing, especially in a flat. |
| 1:25.2 | Well, to guide me through this unfamiliar territory, I have three expert voices. |
| 1:29.6 | Amy Nettleton is an assistant development director at the Housing Association, Astor Group. |
| 1:34.2 | It provides homes across the south of England. |
| 1:36.6 | Amy, briefly, how does it work? |
| 1:39.0 | You buy a bit of a home and you rent a bit of a home. |
| 1:42.2 | And just to correct, there are a lot of houses |
... |
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