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I'll start by saying that i see it as a con to keep the housing market over priced. But, being as i am getting sick of being evicted every 6 months by landlords and agencies. I thought it might be worth a thought.
So what are the pros and cons?
I assume new build? are they built on mixed estates or stuck on council estates? how easy are they to apply for? etc.
from what I remember, a certain portion (10%?) of all new build estates were supposed to be sold under shared ownership schemes, but things may have changed.
As building land becomes more of a premium, some new build sites may go up inside a "traditional" council estate but I guess the majority wouldn't be - yet - except in more heavily built up areas
There are some in quite nice areas round our way. Best way to look at it is as a good alternative to renting as you won't build much equity as the capital repayment is a tiny part of what you'll be shelling out each month. On the plus side it's a place of your own, and you will need a much smaller deposit to get a mortgage. Mrs LJ did it to get her first flat and it was pretty pain free. As I say, not a bean in equity years later though.