24yo looking to buy my first property. 1 bedroom flat or 50% 2 bedroom house shared ownership? LDN


Edwardo Marshall

New Member
hey, I'm looking to purchase my first property with a plan to remortgage and branch out from there.

Looking at the market, in terms of branching out after the mortgage, we're unsure whether to go for
- 1 bedroom apartment 180k
- 50% of a 2 bedroom house through shared ownership. 190k

- our combined income is 44k
- both first-time buyers
- 22k deposit

i am leaning towards 2 bed because i can lodge the room out to a family member for £5-600 helping me knock off my mortgage quicker. through my calculations, i should pay off the 50% mortgage in 5-6 years. However, in terms of getting units under me and branching out, I'm not sure what's the most efficient/ best way to go about this because after 6 years that remaining 50% could be roughly 250k... so should we keep it at 50% and get a flat to rent instead?

what would you do in my situation?

sorry, I'm new to this. Any useful educational free sites, podcasts, books, or YouTubers out there you could recommend would be great.



Active Member
Personally I am not a fan of shared ownership because:-

a. As the value of the property rises the chances of you owning it outright diminish
b. What happens if one party wants to sell but the other doesnt?
c. If the other party sold their share, would you have any control over who they sold it too?

Are these fair comments?