Claer catches up with Lucy, who was working out if shared ownership was better than renting
Last October Claer spoke to listener Lucy who was on the cusp of buying a shared ownership flat with her partner — but was getting cold feet. The shared ownership model enables buyers to take out a mortgage on part of the property, and pay rent on the rest. Lucy was hoping that this would be her first step towards being able to afford to own 100 per cent of her home, but worried about how much it would cost. Six months later, is she comfortably settled in the flat or did the couple stay renting? Claer hears from experts, independent property expert Henry Pryor and mortgage broker Andrew Montlake from Coreco.
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-This Millennial Money column from Kate Beioley, the FT’s legal correspondent, reveals how being single made it practically impossible for her to pursue the shared ownership route
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