I am rather hoping
that the house prices will fall through the floor.
As one of those lucky people that got on the housing ladder by way of a 'not for profit' housing association, it means I have a mortgage on 50% of my house, and rent the other 50%.

They wrote to us recently saying that it would be a good time to buy the other half or however much you can at current market value.

So my house that was worth 115k could be mine for a hell of a lot less than that soon and with no negative equity to deal with....hurrah!!

I have a slight warm feeling inside now, when the people that looked down their noses at people like me for buying via a housing association because it's so 'common' or it's to complicated, and they make money from you and all the other shit I have heard...well ha...it's done me a great service and house prices falling is music to my ears!!!!....in a few years it should 'kerching' all the way to the bank...that's if we still have banks then....and money....

I wonder what Kirsty and Phil would make of this situation??? I love kirsty and Phil...
(iwantmybed Is counting down the hours till home time on, Thu 22 Jan 2009, 14:25, 3 replies)

Mmmmmm. . .
Allsop.
(aroe_m0rre, Thu 22 Jan 2009, 16:18, closed)

Nothing wrong with housing associations
Right with you on the association front. I was lucky enought to get onto a pilot scheme here in Scotland where they basically pay for a percentage of the property. I've no rent to pay, you just give them there percentage back when you sell or you can buy the rest of the equity share in stages and become the sole equity holder. It so easy and straightforward that I had it all sorted with a few forms, some e-mails and a few phone calls. People who shun housing associations are quite frankly missing a trick and probably a bit dim.
(Mr Teatime, Fri 23 Jan 2009, 2:03, closed)

I
Completely agree with you. They are generally stupid if they think the housing association root is somehow far worse than over stretching themselves just so they don't have to go that route.

I do like the sound of the deal you get up there in Scotland....sounds a bit fairer than down here....but then you Scots seem to have much better ideas about things like that anyway.
(iwantmybed Is counting down the hours till home time on, Fri 23 Jan 2009, 9:22, closed)