buy one while renting another

1888

is it possible to buy a flat & rent it out .while renting a house from housing association.
thing is i stay in a 3bedroom house which we rent from a housing assocation, i would like to buy it but cant as im on an ongoing temporary position at work so wont get a mortgage ,
i do however have saivngs which i could buy a flat outright & rent out to try make some cash.
dont know if it makes any differance in law but i stay in scotland.
is it possible to do this ?

oblivion_6

sounds pretty dodgy m8

the only reason you would be with the housing association is for help because you cant get a house through your own means is it not?

For you to turn round and buy a place and rent it would show that youve got the means to leave the HA.

Just my 2c

1888

when i say housing association its just like the local council, pay full rent/council tax etc.
would rather buy this one but cant get mortgage

1888

so you think i should give up my house and move me my wife + 2children into a one bedroom flat ,dont talk rubbish when you dont know the facts.like i say cant get mortgage to buy house im in thru no fault of my own. looking to legally earn extra cash . is that so wrong????

new_home_owner_3

I dont see any problem in it, like you said and i know people who live in housing association flats and houses and they pay the going rate for rent, but the houses are usually new and have to be up to a cirtain standard.

Sounds a good idea and at least your are making steps to buying your own place even though its not the size you need, you will be on the property ladder and making a nicely weekly amount from rent.

You need to ignore a lot of people on here most of them are just jealous, what people mst remember whether your rent private or housing association you still are actually renting.

Jowo_2

I don't believe that any change in economic circumstances necessarily triggers the end of a social housing contract. Read through your tenancy handbook and tenancy contract to see if there are terms and conditions in it that oblige you to notify them if you become a non-occupying homeowner.