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A weird scenario
Comments
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You should also consider that if your friend is loaning you 50% of the cash, what happens if he hits hard times financially? Will he be able to force you to sell to recoup his loan?
I would have no peace of mind with your suggested arrangement. Is the £110k mortgage going to be joint? Just wondering how you believe you can afford to live in a £220k house if you can only afford half of it?
Have you looked into Shared Ownership? Might be a more straightforward option for you to get a bigger house?0 -
Happy_Girl wrote: »Have you looked into Shared Ownership? Might be a more straightforward option for you to get a bigger house?
Straight forward but still missing the point about affordability.
Rent still to be paid on the other half and problems upsizing or selling on.0 -
Why not just rent a house that's just as nice, with less of the responsibility that go with ownership?0
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