Mortgages for part-buy part-rent

steveo999

Hi I have started looking at the part-buy part -rent schemes for affordable housing in London as that the only way ill be able to afford anything.

Has anyone else done this - with regards to mortgages whats the deal - does it require a specific type of mortgage or can I look at the same type as you normally would? The housing options website dosenthave much details so any advice would be good as lots of the properties want you to have a mortgage agreed in principle before even viewing

steveo999

anyone? or did i post this in the wrong area?

brit1234

steveo999 wrote: »

anyone? or did i post this in the wrong area?

Posted right place.

To be frank most people avoid this scheme as it is a scam. There are many threads on it. Below is the link to the last one.

https://forums.moneysavingexpert.com/discussion/2695465

Strongly recomend you avoid as prices are falling and you can save a deposit in the mean time.

steveo999

interesting so the scam is just that the values of the proeprties are increased? the ones i have seen in London have been quite fair and fall in line with average property.

ANyway any advice on mortgages for this ?