We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Selling to property company and renting house back
julia64
Posts: 1 Newbie
Hi,
Does anyone know if there are any pitfalls to be aware of when you sell your house to a property company and they then rent it back to you?
My partner and I are looking into this and would be grateful for any handy tips, warnings or feed back from anyone who has tried this!!
Frankly we're desperate to have a roof over our head and lower our outgoings in not good circumstances, so:beer: to anyone who can help!!
Does anyone know if there are any pitfalls to be aware of when you sell your house to a property company and they then rent it back to you?
My partner and I are looking into this and would be grateful for any handy tips, warnings or feed back from anyone who has tried this!!
Frankly we're desperate to have a roof over our head and lower our outgoings in not good circumstances, so:beer: to anyone who can help!! 0
Comments
-
I think they tend to give you much less around 80% of the value and they have been known to evict people they rent houses too, it was on watchdog a few months back, seller beware0
-
There has been lots in the press how dodgy these companies are. The government are having a serious look at them and looking to regulate.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
0 -
They will buy your house for a pittance and then give you an assured shorthold tenancy, which means you can be thrown out for no reason with just two month's norice.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
my mum did this because she had a lot of debt. the money she got has now gone and the rent she pays is 3 x the mortgage she paid! she is now in a worse position and is looking to go back on the council waiting list. Hope this helps0
-
You should really read this article: http://www.fool.co.uk/news/get-out-of-debt/2008/01/11/a-dangerous-way-to-get-out-of-debt.aspx2015 comp wins - £370.25
Recent wins: gym class, baby stuff
Thanks to everyone who posts freebies and comps! :j0 -
rent starts off cheap then............out you go
they sell house and make a quick 20%0 -
-
remember that as well as the pitfalls relating to possible eviction and low valuation if you are considering paying the rent with the help of housing benefit you are not entitled to claim housing benefit for a property that you have previously owned for a period of 5 years.
teeni0 -
remember that as well as the pitfalls relating to possible eviction and low valuation if you are considering paying the rent with the help of housing benefit you are not entitled to claim housing benefit for a property that you have previously owned for a period of 5 years.
teeni
Are you sure about the 5 yrs thing? How can they check with land registry?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards