Should I be wary of private sale?

clutton_2

One thing that no one has mentioned up to now is that from this month any company that offers a Sale and Rent Back (SARB) have to be registered with the FSA and there will be very very strict controls over this type of transaction.
Individual traders are most unlikely to be granted registration.

These interim rules have been brought in to prevent rogue SARB traders from buying property cheap then evicting tenants. If you want the name of a very good ethical SARB company please private message me and i can pass it on.

As a tenant you will never have security of tenure - that is the difference between being a home-owner and a tenant. As a tenant you have no control whatsoever over the landlords personal circumstances - his family may die, he may become ill and not pay his mortgage, he may emigrate - all these things will affect the tenants future security. You are chasing a dream which is unattainable.

However, what the OP fails to realise, and this may come as a shock, is that she is a very bad risk as a tenant to any new landlord. Altho she says she will be able to afford rent, she has no history to prove that that will be the case in the future.

I know that her debts have accrued due to the sad death of her husband - but that still does not make her a good risk.

She is looking at this from a hugely emotional standpoint, and my view is that her only real optioin is to sell the house, buy somewhere cheaper that she can afford to run.

The only answer to her problems is to reduce her outgoings - there is only one way to do that - sell your home.

I know this is not what you want to hear - but you post in a very emotional state right now - and someone needs to put forward the stark reality of your situation.

Would your late partner want you to continue struggling for more and more years when there is a solution ? Where-ever you live you will have you rmemories

best of luck with whatever you decide