When Cherida Plumb bought her first shared-ownership home, she was grateful for the scheme as it allowed her to get on the property ladder.
However, she deeply regrets buying her second one, which she lives in with her partner Adam Carter, as it has restrictions which means they can only ever own 80 per cent of the property. She fears they will encounter difficulties when they come to sell it.
“Our house is in a village in a designated protected area,” said Cherida. “This means it has an 80 per cent staircasing cap, so the home can never fully be ours as there is no option to buy the remaining 20 per cent.
Shorts
“It also means we are always going to have to be paying rent, which is going to be a financial burden as we get older. We are almost mortgage-free, but I fear being trapped in this property and forever having to pay rent.”
