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 desant
Pleiadian Gypsy
Registered: 03/31/09
Posts: 4,208
Loc: Aether 
Last seen: 13 days, 4 hours
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 Anyone got a mortgage?? 
#15945104 - 03/14/12 07:18 AM (1 year, 3 months ago) |
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Here is the deal.
1. I am on some health benefits here and they told me i can get a mortgage and i wont have to pay interest on it.
Ho many years can you take a mortgage out for?
2. I am renting a property at the moment and im on housing benefits. Basically i get benefits paid for rent AND council tax. I get about 500 for rent every month. So i was at the civic center the other day and talked to house benefits people, i tell them - instead of having 500 sent into black hole (rent money) every month, WHY not let take out a mortgage (!!!!!) AND, rather then wasting $$$ for rent, have it ADDED to my mortgage?
Same amount - 500 a month. What difference does it make to benefit agency , paid for rent or towards mortgage?
At this point benefit worker stopped me and told me they dont do anything with mortgage.
Can i chase this through with someone like citizen advice beuro and complain and ask them to change their views / laws? Cos i really dont see the logic here, my logic is sound 
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Eagle
Horney Biker
Registered: 01/13/12
Posts: 179
Loc: USA
Last seen: 9 months, 8 days
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 Re: Anyone got a mortgage?? [Re: desant]
#15945288 - 03/14/12 09:35 AM (1 year, 3 months ago) |
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I never heard of that. I know with mine I have insurance to where if i become disabled the payments are made but this is an insurance plan thru the mortgage company. It also didn't kick in till after the 1st 6 months or year if i remember correctly. But you might have something different other than the standard mortgage I have. Might be a government/state assisted plan. All's you can do is get ahold of the person that told you about it and find out more info.
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 cateyes
Registered: 12/16/03
Posts: 2,754
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 Re: Anyone got a mortgage?? [Re: desant]
#15953845 - 03/16/12 02:49 AM (1 year, 3 months ago) |
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you might be able to do a rent to own or lease to own if the government is paying you the funds and you're paying the land lord out of your bank's savings/checking account. you're basically getting the owner to hold the mortgage for you, whether some are still willing to do this is unclear but it worked for me early on in my property investing an d although it is unlikely for home prices to increase where i live at least you should always lock in at the current market value/agreed upon price. but i can completely understand why a social worker would be taken back by such an idea regardless how much sense it might make... here in the US they plan on doing away with a lot of social programs after the elections of 2012 come the beginning of 2013 and i see you're in britain which may eventually adopt similar social policies. if this is true the last thing i would want to see as a social worker probably living in a flat is someone one the dole owning their own house if you see what i mean... i mean i'm not cutting you down for trying to be creative here but seriously who wouldn't complain if they discovered those on disability are becoming home owners in the process.
i wish you the best in this...
Kensho  
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desant
Pleiadian Gypsy
Registered: 03/31/09
Posts: 4,208
Loc: Aether
Last seen: 13 days, 4 hours
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Re: Anyone got a mortgage?? [Re: cateyes]
#15954422 - 03/16/12 09:29 AM (1 year, 3 months ago) |
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Dudes i had another idea. Forget the mortgage for now. Im thinking rent.
Max i can pull for rent right now is 500 a month ok.
Rent for the 2 bedroom home i want is 700.
Obviously i can not afford 700, so im thinking i could lease spare bedroom to someone for say 200!
What do you think?
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Eagle
Horney Biker
Registered: 01/13/12
Posts: 179
Loc: USA
Last seen: 9 months, 8 days
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Re: Anyone got a mortgage?? [Re: desant]
#15954488 - 03/16/12 10:13 AM (1 year, 3 months ago) |
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Depends on many things. Though if your going to do the room-mate thing I would go half and half on everything.. Figure there going to use the water your paying for, the elec that your paying for, the heat your paying for, etc..... I would look at half the rent and half the utilities. and they supply there own food. or some food arrangement.
Edited by Eagle (03/16/12 10:15 AM)
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