Housing Association Secure tenancy into Shared Ownership - Rent Help and Advice.

[Oliver_C]

Hello,

We have a secure tenancy with a Housing Association and are looking into a 25% shared ownership for the house as our circumstances have recently changed and do not want to lose our home.

My question relates to rent. With a secure tenancy we pay a low monthly rent. Do any of you know whether this rent agreement is likely to change, and therefore increase to standard market value as a result of going into a shared ownership? Or is the secure rent value likely to remain in place for which we would pay 75% of the current rent value?

Of course this is best answered by discussing this directly with the Housing Association in question - but this is something we would like to understand before we approach them.

Thank you very much!

[Wombats]

Re: Housing Association Secure tenancy into Shared Ownership - Rent Help and Advice.

This may help:

http://www.ourproperty.co.uk/guides/...ownership.html

The way I read it you organise a mortgage for 25% of the property and pay rent on the remaining 75% which belongs to the housing associatio. As they own it and are social housing providers, and given the aim of the scheme, I'm pretty sure your rent would just be as it is now, increasing slightly each year.

I don't know what happens to issues of maintenance etc... but there are some good sites which explain options if your Google the subject.