Q:Howdy

i have lived in a HIMO for the past 18months and would now really like the room to spread out and stop throwin my salary down the drain by renting a damp room and continually replacing my cutlery.

i live in milton keynes which has a ''popular'' shared ownership scheme which i am considering.

realistically i could have the deposit ready and be finacially capable for this by january so i just want to start getting things together.

i'd love to hear peoples thoughts or experience of shared ownership to help me with my planning

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A:a HIMO is a House in Multiple Occupation
ie i rent one bedroom and others rent a bedroom each too and we share the communial areas.

like i said, house share is popular in MK and there are literally dozens of them on the market at anytime. often with no upper chain. so waiting lists are not an issue.

i did look into the keyworker thing you mentioned but in MK it only concerns dwellings within the hospital district.

im glad deposits are low tho. i thort that would be the hardst part.

how do things like decorating or replacing window frames and fittings etc work. can you just treat it like you own the property or are there restricitions?

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A:My local borough Woking runs theirs via the Thames Valley housing authority – http://www.tvha.co.uk/ , not sure which part of the country you are in but i think almost all local authorities run their schemes via organisaitons like this.

I went along to my town hall for a chat about it. I am buying on my own, the minimum earnings to get on the list is ￡20k, unless you are a key worker. I am not considered a priority case though as i have no kids and earn a fairly good wage, this scheme prioritises single parents and key workers really, then people with lower or average wages, then at the end of the queue are those like me who realistically can afford to but alone (even though its still a stretch) which is fair play.

So the scheme is great if you really cannot afford to buy alone (i.e you physically wont be able to afford the bills), but if you are looking to do it to lower your finnacial burden on a mortgage but earn over enough to take a sensible mortgage alone (maybe over 35k), then you'll be on the list for a very long time.

If you want to be able to buy in Jan, i'd suggest getting on the list straight away, and even then you may be waiting a little past January, but its a great scheme, just with a very long waiting list.

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A:Hi well i'm not sure what a HIMO is lol good start eah but may be able to help you with some of the rest!
We are in the procces of buying ours and it's taken 7 years to get a house where we live so you are lucky to have some available! Our depeost was very low aswell so i owuldn't worry about saving too much on that aspect but depends how different areas run things?
Money also depend on the % you have been offered as that will depend on the stamp duty fee aswell, urm..the rent 1/2 depends on the price of the house aswell.
They are the main things, we are buying a new build so slightly easier as no chain but all i can think of for now!
Any more question please ask!

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