Can We Take Over A Mortgage?

dancingfairy

I think they really need to get their own advice - tell them to consult the CAB, National Debtline or the CCCS. As has been said they can't just give you a 50k asset (even though they have a mortgage for that amount) but they could sell it to you at a fair market rate.
They will still likely owe money, at least be released from the mortgage debt but possibly not be entitled to any help from the council. You would end up with 4k you have already plus would have to take on 100% mortgage as you don't have a deposit, plus possibly incur costs to buy a house just because your inlaws have messed their finances up, which may or may not be a suitable house for you to make your girlfriend happy. It sounds like it has the potential to cause a huge mess to be honest - if it was in your best interests as well then that would be different but it doesn't sound like you have much to gain on this to be honest.
Best of Luck
df

nomoneytoday

AFAIK if you bought your council house through the right to buy then you're not entitled to another council house later?

hazyjo

nomoneytoday wrote: »

AFAIK if you bought your council house through the right to buy then you're not entitled to another council house later?

That's what I thought too.

Sounding like a very messy situation...

Jx

Caveat_Mortgagor

nomoneytoday wrote: »

AFAIK if you bought your council house through the right to buy then you're not entitled to another council house later?

It may depend on your council.

I'm sure I've read a complaint somewhere about someone being housed by council after losing their second rtb property!!!