‘We’re trapped in our shared ownership home – it’s impossible to sell up’

Aylee Theron is devastated. Eight years on from buying her first flat, the 27-year-old has been told it is worth just £1,750 more than what she paid for it. Together with her partner, Ms Theron bought the property in Stevenage, Hertfordshire, on the government’s shared ownership scheme in 2016. Since then, they have had two sons and are desperate to sell up – but their property, which went on the market in September, has been down valued so many times, they now feel trapped. The overall purchase price was £220,000 in 2016, making their 35pc share worth £77,000. In September, their surveyor valued the share at £84,000. Now banks say it’s worth just £78,750. Two buyers have put in offers at this new price since it went on the market, but both have been rejected – not by Ms Theron, but by Nationwide. In both instances, the building society’s surveyors down valued the property. The first time, by £20,000, which brought it back down to the purchase price. The second time, by £15,000, making their share worth just £1,750 more. Ms Theron said: “The down valuations mean we don’t have enough for a deposit, once we account for fees and...

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