Lockside Cottage Shared Ownership

[bjornunda]

There are a few members of this forum who dream of owning a lockside cottage but for one reason or another are unable to realise their dream.

 

Together, I believe, we could make it happen!

 

For example, there might be 50 people who would invest £4000 each to secure an equal share in the property plus an entitlement to occupy it for one week each year (but with a liability also to pay an equal share of the running expenses).

 

Each owner would have the ability to opt out by selling their share to another for a maximum of the original cost of the share plus a recognised index-linked amount. In the unlikely event of there being no share owners wishing to increase their holding other means of disposal may be considered.

 

There would have to be contracts and operating procedures of course, maybe even (dare I say it?) a Management Committee, no, a Board of Management.

 

We may have members who are retired solicitors, accountants, architects, surveyors, designers, draftsmen, craftsmen etc willing to bring their expertise to such a scheme.

 

Maybe we could begin with a property "requiring extensive renovation".

 

I'm planting a seed here ........ but if it gets off the ground I want IN!

Edited July 13, 2008 by bjornunda

[Bones]

I did enough 'sharing' with my sisters, which usually meant anything I had that they wanted, I shared. Not only that but when they got short of cash, they always used to con me into playing 'shops' sell me MY stuff and fleece me. Naturally I am rather dubious about anything shared these days!

 

The lock cottage looks great, and it would be a fantastic project, but getting the money together is the tough thing. Perhaps shared ownership is a good idea (not for me), but does it work for cottages?

[Hairy-Neil]

Would anyone want to share with Carlt, Mayalld, John Orentas..... or even me?

[mayalld]

Would anyone want to share with Carlt, Mayalld, John Orentas..... or even me?

 

Wow, I've been made an example of!

[Bones]

Would anyone want to share with Carlt, Mayalld, John Orentas..... or even me?

 

YES!

[tomsk]

We have the resources and technical expertise, but not the desire... This has all the classic hallmarks of 'A rum do'

[alan_fincher]

I'd not want to be around for the discussions if a survey indicated it needed RE-WIRING.

[tomsk]

I'd not want to be around for the discussions if a survey indicated it needed RE-WIRING.

 

Quite......

[carlt]

The only person I felt I could share the purchase of a house with has also had my babies.

 

This has worked very successfully, so far, but any other people joining our little syndicate would, I feel, upset the natural balance.

[John Orentas]

Would anyone want to share with Carlt, Mayalld, John Orentas..... or even me?

 

 

I was warming to the idea until I read that.

[alan_fincher]

I was warming to the idea until I read that.

We were thinking maybe a joint tenancy of you with Gibbo & Chris W, John!

 

(Runs for cover....)

[classicstove]

You may like to consider a hybrid between joint ownership and letting out in the weeks unoccupied

 

May be worth may be worth benchmarking against cottages already let out such as the Landmark Trust Cootage at Lowsonford on the Stratford Canal or the one let at Stoke Bruene

[bjornunda]

Hey, the original post suggested shared ownership, not shared occupancy (though I might be open to offers).

 

You could put out your week for hire (subject to conditions, of course).