Hi there
I've just applied for a shared ownership scheme in South Manchester to get on the housing ladder. They've come back with an offer of me taking a 75% stake. Using their own calculations, as well as those from MIS, this leaves me with -£272 a month after all bills and food / petrol etc. Why would they offer this to me on that basis when it seems ridiculous?
Has anyone else had a similar outcome and is there anything I can do or any advice anyone can give me?
The houses themselves seem perfect.
I should add that I earn £24000 a year before tax / NI / student loan and I have one loan repayment of £125 a month. I also pay £100 a month into a pension. I have no credit card debt. The house value to buy 100% is £110000. The trust are offering stakes at 50%, 60% and 75%.
Cheers
I've just applied for a shared ownership scheme in South Manchester to get on the housing ladder. They've come back with an offer of me taking a 75% stake. Using their own calculations, as well as those from MIS, this leaves me with -£272 a month after all bills and food / petrol etc. Why would they offer this to me on that basis when it seems ridiculous?
Has anyone else had a similar outcome and is there anything I can do or any advice anyone can give me?
The houses themselves seem perfect.
I should add that I earn £24000 a year before tax / NI / student loan and I have one loan repayment of £125 a month. I also pay £100 a month into a pension. I have no credit card debt. The house value to buy 100% is £110000. The trust are offering stakes at 50%, 60% and 75%.
Cheers