Rental Advice

skintandscared_2

garreth934 wrote: »

I fully intend to inform every1 of my last minute plan.

I just want to keep my house.

The rent will cover the mortgage payments with no extra money to myself.

Yes, but what you must realise is that when the mortgage payments end, the house (and it's entire value) is yours. You have then effectively let the taxpayer buy your house for you (not that I'm assuming your situation will carry on until the house is paid for!) Personally I don't think it's fair that benefits can cover rent but not any part of mortgage, but I do think that IF benefits ever did cover part of a mortgage payment, a corresponding pro-rata charge should accrue on the property, so that SOME of the cost of the benefit could be recouped if the property is later sold at a profit.

Caz3121

how much equity is there in the property - as has been said, this will be assessed and if more than £16k you will not receive any help with rent so you really want to make sure that the rental income you charge covers both the mortgage and your rent/council tax

your mortgage lender may also charge a higher interest rate and/or charge for the consent to let

lighting_up_the_chalice

garreth934 wrote: »

If i was an immigrant or a council house dweller i would get all the assistance i would need however i am not so i dont.

If you were an immigrant with a mortgage and no job planing on getting the taxpayer to buy him a house via the benefits system, exactly the same rules would apply. What a curious example to use.