what are downsides to this scheme, (shared ownership)

[master L]

I am looking at this scheme as i dont have enough deposit for a house and rent is expensive.
I may put 10k deposit in, mortgage about 90k and pay anout 340pcm.
what are the downsides ??

http://www.sovereignliving.org.uk/Webpage/48/Share...

The builds they have are new and look very nice.

[master L]

But my problem with the newbuy' scheme is i am single so it would cost me too much a month to repay that large mortgage im guessing.

Steve Evil said:

If you've got 10k as a deposit, on the government NewBuy scheme that would give you your 5% towards a £200,000 house. Nothing wrong with shared ownership, my wife owns one and it's great for us as it's cheap whilst we save a deposit for a larger property, but there are lots of restrictions that come with it and sometimes you'll find that the neighbours aren't the nicest of folks.