house dilemma

angnbern

i have a friend in har mid fifties with a son aged 29 years old with learning difficulties, he does work, employed through remploy at a company for past 10 years approx.her and her husband have a mortgage appox 12 years left to run, they owe bout £60,000 on mortgage and house is worth bout £250,000, she cart afford to buy him out, they will split eqiuty 50-50, she cant afford to buy anywhere else, can anyone help on what she can do about finding somewhere else to live, thanks

Oldernotwiser

Does she work?

angnbern

hi yes shes always worked, takes home bout £1000 month,

g_attrill

Presumably she will get £95k less half the selling costs. They could possibly get a morgage combining their incomes. If the son is expecting to live with his mum for the forseeable future then this might not be a bad idea, although I think the lender will be looking at what happens to the incomes when your friend retires.

The question is what can they afford for £95k, or more likely that amount plus an affordable mortgage? What are they currently living in, and what's the cheapest 2-bed house/flat in the area?

Another option is that because of his difficulties they might be eligible for council housing, although from what I've read here I don't think they would have much luck - worth enquiring though!