House - 50% Ownership ?

I been looking at ads for homes for sale at rightmove.co.uk

some homes I see "50% ownership" .. does this mean what I think .. you only own the house for 1/2 the year ?

Null

I've heard about "partner" mortgages lately...like you go in on a mortgage with friends/associates/partners/whatever...and you each own a share of the house.  Maybe the people running the ads are looking for a partner to go into a mortgage with them?

Sounds like what you're seeing is a shared ownership type of thing wherein you own say 50% of the property and the other 50% is owned by a housing association.  This type of scheme enables people who would not normally be able to purchase their own property to get onto the property ladder.  Usually as time goes on, you can increase your percentage of ownership until you own the property 100% on your own. 

I'm pretty sure it's a take on council housing - like Elle said, you pay for half the cost of the house and the association pays half. BUT if it's what I'm thinking of, you not only have to buy half, you also have to pay rent on the other half. We have some friends who live near by that did it and they did manage to get a decent deal and wouldn't have been able to buy otherwise. But also be careful as a lot of these houses aren't in the safest of neighbourhoods....

Sounds like what you're seeing is a shared ownership type of thing wherein you own say 50% of the property and the other 50% is owned by a housing association.  This type of scheme enables people who would not normally be able to purchase their own property to get onto the property ladder.  Usually as time goes on, you can increase your percentage of ownership until you own the property 100% on your own. 

Yes, you where right on the money, I was able to contact them, and that was the whole deal.

funky .. had never heard of something liek that, quite nice trought, for people who need a little help.

Null

I'm not terribly fond of the idea. It will encourage a further ramping up of already insane house prices.

Anybody interested in the the state of the UK housing market from the bearish point of view should stop by housepricecrash.co.uk (they also have a forum, here: http://housepricecrash.co.uk.ipbhost.com/index.php?showforum=22 ) for more food for thought.

nice link sam