Moving to the Isle of Wight is the best thing my family and I have done. In Milton Keynes we had a share of 30% in a house with the housing association. For the pleasure we had to pay a premium of £6,000, which at the time the housing association permitted. Now we have sold we have been told we are not allowed to charge a premium! Waste of time The updating we had done to the property was not valued in the independent valuation either, that also turned out to be a complete waste of our money also. It seems we have been discriminated against. We have not been treated as homeowners at any time. The reason the HA gave was that we will have benefited from the end of the housing boom, but the person we bought from also benefited in the same way, but was still allowed to charge a premium. Apparently there clauses were waived at that time, but are now back in effect! I think the whole thing is disgusting, they should never have been permitted in the first place. Isn't it supposed to be affordable housing? Now we have moved and housing associations on the island have never even heard of premiums, hooray! My family and I feel we may as well have rented for the past two and a half years, because if anything we have lost money and not gained. Poor decision We do not see our time in MK as a step onto the housing ladder, but more of a poor decision which we regret. We hope that other people realise that they should never pay a premium, because like us they may never see there money again. We feel ripped off. Also, there is no point in updating carpets or kitchens or doing any other cosmetic work, as you will not see the money in the independent valuation. If you do, make sure you keep the old carpets and cupboards in the loft, so as you can put them back down, and take all what you have done with you. Good luck all. Read other case studies >>
Have you had problems getting on the property ladder? Have you just got on it? If so, how did you manage it? Do you want to upgrade but will have to move away from the area to do so? Tell us your experiences using the form below. 
| Andrea, Milton Keynes | Wednesday, 16-Feb-2005 11:48:00 GMT |  | | As a single woman, first time buyer - I am finding it impossible to get onto the property ladder. Shared Ownership schemes are a scam. There has to be a fairer way of first time buyers getting on the ladder? or I will be renting for many more years with no opportunity to invest for my future in property. |
| 
